Thursday, NaviSite, Inc. (NAVI), an enterprise hosting and application service provider, reported a wider loss for the third-quarter of fiscal year 2009, with revenues declining 5%. NaviSite recorded a net loss attributable to common stockholders for the third-quarter of $3.2 million or $0.09 per share, compared to a net loss attributable to common stockholders of $2.5 million and a loss $0.07 per share in the previous year quarter.
The company recorded third quarter income from operations of $1.7 million, representing an 11% decrease from last year, and a sequential increase of 12%.
NaviSite's total revenue for the quarter was $37.3 million, representing a year-over-year decrease of 5% and a sequential decline of 1% due to the anticipated decrease in the professional services revenue for the year and the quarter.
Gross margin for the third quarter was 33%, up two percentage point from 31% recorded in previous year.
The company recorded net loss attributable to common stockholders for the nine months of $9.91 million or $0.28 per share, compared to $10.10million or $0.29 per share for the comparable period last year.
Total revenue for the nine months recorded $114.8 million, compared to $114.3 million for the comparable period last year.
Arthur Becker, Chief Executive Officer of NaviSite said, "Despite the slower progression of opportunities in our pipeline, we are pleased that our lower levels of churn have enabled us to grow our hosting revenue and our EBITDA over the prior year."
NAVI closed Thursday's regular trading at $0.82, on a volume of 0.40 million shares on the Nasdaq.
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