SCOs FY06 Results: Not a Pretty Picture

 
 
By Steven Vaughan-Nichols  |  Posted 2007-01-17
 
 
 
The SCO Group on Jan. 17 reported financial results for its fourth quarter and fiscal year ended Oct. 31, 2006. Had Warren Zevon been a business reporter, he might have described SCOs latest fiscal year as "not that pretty at all." He would have been right.

SCOs revenue for the fourth quarter of fiscal year 2006 was $7.349 million, a decline of over a million dollars from $8.528 million for the comparable quarter of the prior year.

The company managed to staunch its losses to a degree. The net loss for the quarter was $3.743 million, or $0.18 per diluted common share, as compared to a net loss of $3.431 million, or $0.19 per diluted common share, for the comparable quarter of the prior year.

Click here to read more about what SCO has to say about its prospects.

Darl McBride, president and CEO, said in a conference call, "The decrease in revenue was primarily attributable to continued competitive pressures on the companys Unix products and services."

As the quarters data indicated, the overall revenue for SCOs 2006 fiscal year, which also ended on Oct. 31, continued its downward slide. Revenue for the year ended Oct. 31, 2006 was $29.239 million as compared to $36 million for the year ended Oct. 31, 2005.

This resulted in a net loss for the year ended Oct. 31, 2006 of $16.598 million or $0.80 per diluted common share, as compared to a net loss of $10.726 million, or $0.60 per diluted common share, for the prior fiscal year.

Read the full story on Linux-Watch: SCOs FY06 Results: Not a Pretty Picture

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