Niku loses $13.8 million in fourth quarter

Internet software and services provider Niku posted a fourth-quarter loss of $13.8 million, or $1.63 a share, on sales of $5.2 million. Last week, Niku raised $205 million in its initial public offering.

Its shares closed off 7 3/4, or 9 percent, to 80 1/2 ahead of the earnings report.

There was no First Call consensus estimate for Niku (Nasdaq: NIKU) this quarter.

Niku shares stormed up 189 percent in its Feb. 29 IPO after pricing 8 million shares at $24 a piece.

In the year-ago quarter, Niku lost $1.2 million, or 23 cents a share, on sales of $15,000.

For the fiscal year, it lost $25.1 million, or $3.86 a share, on sales of $8.2 million compared to a loss of $2.8 million, or 56 cents a share, on sales of $15,000.

"In our last quarter as a privately-held company, I was delighted with our growth in revenue and with customer acceptance of the Niku solution," said CEO Farzad Dibachi in a prepared release. "Niku is, I believe, well positioned to transform the service economy as we embark on fiscal 2001 as a publicly-held company."

Its shares peaked at 105 13/16 earlier this month.