Netscape. Anyone watching? CNBC just talked about how they reported just breaking even vs. estimates of a 10 cent loss. However, what they didn't say was that they loaded all the losses into January. They changed their fiscal year, so today they reported January by itself and then the 3 month's ended April 30. January showed a 58 cent per share loss or a $55 million operating loss vs. a $10 million operating loss for the April Qtr. Net, after adding interest and "other" income, they made $8,000 in the qtr and lost $54 million in January.
CNBC reported that it was up after hours, but I haven't checked. Gotta love it!
Bob
biz.yahoo.com
From the 10-K:
CHANGE IN FISCAL YEAR
In February 1998, Netscape announced that its Board of Directors approved a change in Netscape's fiscal year to November 1 through October 31, effective for the ten-month period ending October 31, 1998. Netscape previously reported results on a calendar fiscal year basis of January 1 through December 31. The Board's action reflects Netscape's increased focus on its enterprise software and services business and is designed to align Netscape's financial reporting practices with its business strategy by taking into account the seasonal buying patterns of enterprise customers. Netscape will file a
Quarterly Report on Form 10-Q for the quarter ending April 30, 1998, which will include January operating results in conjunction with reporting financial results for the quarter ending April 30, 1998. |
