Exult Inc.

The Irvine provider of Web-based business services posted a net loss of $52.5 million, or 60 cents a share, for the fourth quarter, which included a one-time, noncash charge of $29.9 million related to issuance of a three-year warrant to buy 5 million shares of the company’s stock. For the 1999 fourth quarter, a net loss of $8.4 million, or 90 cents a share, was reported. Revenue rose to $32 million, from $2.6 million.

The net loss for the year was $94.8 million, or $1.74 a share, compared with a net loss of $15.2 million, or $2.20 a share, for the prior year. Revenue grew to $66.7 million from $4.9 million. The company completed its initial public offering in June.