Live: Best Cyber Monday Deals Live: Cyber Monday TV Deals Tech Fails of 2022 Deals Under $10 Deals Under $25 Deals Under $50 Streaming Deals on Cyber Monday Cyber Monday Video Game Deals
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

NetObjects wilts on 4Q miss

NetObjects shares fell 44 cents, or 18 percent, to $2.06 Friday, one day after it fell short of analysts' estimates in its fourth quarter.

In the quarter, NetObjects (Nasdaq: NETO) lost $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.

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."