While revenues were up for Netscape in its third-quarter report,
its net income shows that the company barely broke even.
The firm announced earnings of $150.2 million for the three months ending
July 31, 1998, an 18% increase over revenues posted during the
quarter ended April 30, 1998. The company reported its net income for the
third quarter was $88,000 as compared to a loss of $44.7 million the year
previous.
Netscape’s operating loss was $2.1 million for the quarter, down from
$10.1 million for the preceding quarter ended April 30, 1998.
“Overall, we are pleased with the results we posted for the quarter,” said
Jim Barksdale, president and chief executive officer, in a statement.
“We’re seeing strong momentum in both the Enterprise software and Netcenter
businesses as
demonstrated by the number of significant customer wins announced during the
quarter including Ford, Visteon, Digital Equipment Corporation, Bay Networks,
Fujitsu, Citibank, America Online, Excite, Looksmart, Lycos, Infoseek, and
Altavista.”
Third-quarter highlights included the beta release of Netscape Communicator
4.5 and the relaunch of Netscape Netcenter.
Netscape also announced today that Bill V. Campbell, Intuit’s chairman, will
join Netscape’s board of directors. He replaces John E. Warnock, chairman
and CEO of Adobe Systems, Inc.