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NAVISITE REVS FALL, LOSS RISES FOR YEAR
Managed and hosting service provider NaviSite reported a net loss of $18.5 million for the year ended July 31, up from $11.3 million for fiscal 2008. Revenue for 2009 of $152.7 million was down 1 percent from $154.9 million the prior year. Hosting revenue was flat at $34.5 million in the year just reported, compared to $34.4 million in 2008.
Revenue took a hit from a $13.7 million drop in income from professional services, but the company said that was somewhat offset by a $10.3 million increase in revenue from its enterprise hosting and application services.
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