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Netscape changes fiscal year

Netscape's business strategy has changed, so its fiscal year will change, too.

Netscape's business strategy has changed, so its fiscal year will change, too.

The company said today that its board had agreed to change its fiscal year to November 1 through October 31, effective immediately. It previously ran from January 1 through December 31.

The plan to change Netscape's fiscal year has been under consideration for about six months, a spokeswoman said today.

"The board's action reflects Netscape's increased focus on its enterprise software and services business, and is designed to align the company's financial reporting practices with its business strategy by taking into account the seasonal buying patterns of enterprise customers," the company said in a statement.

As a result, Netscape will report January results as part of its year-to-date financials, in concert with reporting results for the quarter ending April 30.

In January, Netscape announced a net loss of $88.3 million, or 92 cents a share, for the quarter ending December 31, 1997, compared with profits of $8.2 million, or 9 cents a share, reported last year. At the same time, the company announced the elimination of 300 jobs, or 9.4 percent of its workforce. Excluding restructuring and acquisition charges of $79.3 million, Netscape would have posted a loss of $20.8 million, or 22 cents a share.

Wall Street analysts who follow Netscape said they had no immediate comment on today's news. Netscape closed at 20, down 9/16, in today's trading.