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NaviSite Turns To Q3 Profit - Quick Facts

NaviSite Inc. (NAVI) reported net income available to common shareholders for the third quarter of $17.3 million or $0.47 per share, compared to a net loss of $3.2 million or $0.09 per share in the year-ago quarter.

Net loss from continuing operations in the third quarter was $0.7 million as compared to a loss of $1.8 million in the comparable period in fiscal year 2009. Net loss from discontinued operations for the third quarter was $1.8 million as compared to a loss of $0.6 million in the third quarter of fiscal year 2009.

Revenues for the quarter increased 1.5% to $31.4 million from $31.0 million in the prior-year quarter. Excluding the revenue from the non-renewal of the Los Angeles data center revenue increased 4% over the prior year.

On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share, on revenues of $34.19 million for the quarter. Analysts estimates typically exclude special items.

by RTT Staff Writer

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