SCOs Q3 Revenue Down, Net Loss Up
The SCO Group on Sept. 6 reported its financial results for its third quarter ended July 31. It wasnt pretty.
Revenue for the third quarter of fiscal year 2006 was $7.42 million, compared with $9.353 million for the comparable quarter of the prior year. The net loss for the third quarter was just over $3.5 million, or 17 cents per diluted common share, compared with a net loss of just over $2.3 million, or 13 cents per diluted common share, for 2005s comparable quarter.
"The decrease in revenue and increase in net loss were primarily attributable to continued competitive pressures on SCOs Unix products and services from Linux," SCO Chief Financial Officer Bert Young said in a conference call.
For the year to date, revenue for the nine months ended July 31 was close to $22 million, compared with $27.5 million for the nine months ended July 31, 2005. The net loss for the nine months ended July 31 was almost $13 million, or 62 cents per diluted common share, compared with last years net loss of $7.3 million, or 41 cents per diluted common share.
"Legal and other expenses incurred in connection with the companys litigation were $2.3 million for the third quarter of fiscal year 2006, which was down from costs of $3 million for the third quarter of fiscal year 2005 and down from costs of $3.7 million for last years second quarter. Because of the unique and unpredictable nature of this litigation, the occurrence and timing of litigation-related expenses is difficult to predict, and will be difficult to predict in the future," said Young.
Read the full story on Linux-Watch.com: SCOs Red Ink Disgorge Persists