In an example of creative, high-tech new-math, Netscape Communications announced on Tuesday that profits from its NetCenter Web site allowed it to "break even" in the quarter ending April 30. The interesting part here is that Netscape's first quarter should have ended March 30, but the company recently decided to change its accounting strategy and moved its reporting quarters forward a month. As a result, January was declared a one-month quarter, during which the company lost $42 million dollars. Revenues for the company declined significantly during the most recent quarter as well, though it's now hard to compare this year's performance to 1997.
Netscape CEO Jim Barksdale said the January quarter should be forgotten as "the current results much more accurately reflect the revenue run rate."
"The results announced today signal two exciting points: first, that Netscape's strategy is resonating with the marketplace and, second, that Netscape is executing well against that strategy," he said.
Netscape also said that it has maintained 60% of the Web browser market