Earnings Roundup: NetObjects falls short of estimates
NetObjects fell short of analysts' estimates in its fourth quarter Thursday, losing $8 million, or 25 cents a share, on sales of $5.4 million.
First Call Corp. consensus expected it to lose 16 cents a share in the quarter.
NetObjects (Nasdaq: NETO) shares closed unchanged at $2.50 a share ahead of the earnings report.
The $5.4 million in sales marks a 7 percent decline from the year-ago quarter when it lost $4 million, or 16 cents a share, on sales of $5.8 million.
"The Internet software industry is going through a tremendous transformation, and NetObjects is forging ahead with a new strategic direction," said CEO Samir Arora in a prepared release. Fiscal 2000 has been a year of growth and change, and we are ending it with the launch of our new online business-to-business strategy."
For the year, NetObjects lost $22.2 million, or 76 cents a share, on sales of $34.2 million.
Its shares moved as high as $45.69 in March before falling to a low of $1.50 in October.
Two of the three analysts following the stock rate it either a "buy" or "strong buy."
Among other technology companies reporting earnings after the bell Thursday:
Analysts were expecting a profit of 12 cents a share in the quarter.
The stock finished off 19 cents to $18.38 ahead of the earnings report.
The $39.7 million in sales marks a 134 percent improvement from the year-ago quarter when it made $1.8 million, or 11 cents a share, on sales of $17 million.
There was no First Call Corp. consensus estimates for the beleaguered Internet incubator this quarter.
Its share finished off 50 cents to $2.50 ahead of the earnings report.
In the year-ago quarter, it lost $212 million, or $2.68 a share, on sales of $31 million.