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Revenues Improve at NaviSite

Carrier Hotels Staff Posted Mar 16, 2004

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Andover, Mass. - NaviSite, Inc. today reported financial results for its second quarter of fiscal year 2004, which ended January 31, 2004. For the second quarter of fiscal year 2004, total revenue increased 19% to $22.3 million from $18.8 million in the second quarter of fiscal year 2003. Gross profit grew for the second quarter of fiscal year 2004 to $5.6 million (or 25% of revenue), compared to a gross profit of $1.8 million (or 9.3% of revenue) in the second quarter of fiscal year 2003. Net loss for the second quarter in fiscal year 2004 totaled $3.4 million, or a loss of $0.14 per share, versus a net loss of $20.2 million, or a net loss of $2.07 per share, in the second quarter of fiscal year 2003. Read the full release ...