US Report: Netscape beats odds with marginal profit in Q3

Netscape Communications surprised Wall Street Tuesday with a marginal profit in its fiscal third quarter instead of a loss.

The company's sales rose to $150.2m (£92m), up 18 percent over the $127.2m (£77.56m) in revenues during the company's previous quarter.

For the first time, Netscape separately broke out results for its enterprise software and Netcenter segments. The company said that its software and services business grew 16 percent while its Netcenter Web portal generated a 24 percent gain .

Jim Barksdale, president and chief executive officer, expressed satisfaction with the results. Separately, Netscape announced that Bill Campbell, chairman of the board of directors at Intuit, will join Netscape's board. He replaces John Warnock, chairman and chief executive officer of Adobe.