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October 21, 1997updated 03 Sep 2016 6:57pm

NETSCAPE HAS SOLID Q3, BUT NINE MONTHS HIT BY CHARGES

By CBR Staff Writer

Netscape Communications Corp, its shares buoyed by the recent legal wranglings enveloping rival Microsoft Corp, was boosted further yesterday by third quarter results, beating Wall Street expectations, albeit by just a cent. The Mountain Viewer reported third quarter net profits up 53% at $11.7m, or $0.13 per share, on revenues that rose 50% to $150.1m. This was the quarter in which Netscape announced that it would reverse its previous decision, and unbundle Navigator out of Communicator, and produce a Java version in early 1998 incorporating Sun Microsystems Inc’s HotJava browser technology. It was also the one it announced Netcenter, its free membership-based online service centered around its website. The company said its main products, Communicator and SuiteSpot 3.0 continue to do well. It’s Actra joint venture with GE Information Services shipped its first product, CommerceXpert. Services accounted for 28% of third quarter revenues this year compared to 16% last year. The nine month figures were hit hard by the $52.6m merger-related charges from the acquisitions of DigitalStyle Corp and Portola Communications in the second quarter. Net losses in the three quarters were $24.1m, after a $52.6m merger-related charge, against profits last time of $12.2m, including a $6.1m similar charge, on revenues up 75% to $405.5m. Cash was $86.2m at September 30, up from $59.8m three months earlier.

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