Netscape posts record profits

Netscape Communications, which announced today that it would be purchased by America Online, also reported record revenues of $162 million for its fourth quarter, which ended October 31. Netscape made a net profit of $2.7 million for the quarter, or 3 cents per share. Revenues from its NetCenter Web portal rose 4% to $48 million, making it the most lucrative part of Netscape's business.

"Results for the fourth quarter demonstrate that Netscape's NetCenter and enterprise software and services businesses continue to attract customers worldwide who want to participate in the Net economy," said Netscape president and CEO Jim Barksdale

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