Niku Corp. (Nasdaq: NIKU) fell 10 to 70 1/2 Friday after the Internet software and services company reported a fourth-quarter loss.
Niku said its loss in the quarter ended January 29th widened to $23 million, or $2.72 a share from $1.4 million, or 26 cents, in the same period a year earlier. Revenue rose to $5.2 million from $2 million. Chairman Farzad Dibachi said he was “delighted” with the results and with customer reception of the company’s products. Niku shares are still well above last month’s initial public offering price of $24.
The company, based in Redwood City, California, provides business-to-business Internet software and an online marketplace.