Network Engines Inc. (NENG) announced that its fourth quarter GAAP net loss was $9.7 million or $0.22 per share, compared to net income of $1.8 million or $0.04 per share, in the fourth fiscal quarter of 2007.
Non-GAAP net income for the quarter was $299,000 or $0.01 per share, compared to net income of $2.4 million or $0.06 per share, in the fourth fiscal quarter of 2007.
Net revenues for the quarter was $40.9 million, up from $35.1 million in the fiscal fourth quarter of 2007.
Analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.00 per share on revenues of $40.00 million for the quarter.
For the first quarter, the company expects net revenues to be in the range of $35 million to $40 million. GAAP Net loss is expected to be between $1.4 million and $2.0 million. Non-GAAP net loss is anticipated to be between $500,000 and $1.1 million.
Analysts expect the company to report earnings of $0.00 per share on revenues of $41.88 million for the first quarter.
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