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Netscape's revenue growth falls, losses rise

Published on .

Netscape Communications Corp. said it expects a loss of $85 million to $89 million, or 88 cents to 92 cents a share, in the fourth quarter ended Dec. 31 on revenues of $125 million to $130 million. Expected revenues will grow just 9% to 13% over the same quarter a year earlier. Losses include non-recurring charges of $52 million for mergers and $35 million for restructuring.

Netscape said it plans to reduce overall expenses and restructure its business beginning immediately, resulting in layoffs, and said it will focus remaining resources on the corporate software market.

The Internet software marketer blamed slowing revenue growth in part on "competitive pressures" that reduced sales of its standalone Web browsers; Microsoft Corp. during the quarter introduced its Internet Explorer 4.0 browser, available free.

Copyright January 1998, Crain Communications Inc.

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