VA Linux revenues up 547 per cent
And Q4 loss narrows ahead of expectations too
VA Linux Systems moved a step closer to its goal of profitability by early 2001 yesterday when it posted a narrower-than-exepected loss on rising revenue for its fourth quarter.
For the three months to 28 July, VA's revenues shot up just under 547 per cent to $50.7 million from last year's $7.84 million and up 46 per cent on the previous quarter.
Excluding one-off items, VA's loss for the quarter dropped to $4.08 million (ten cents a share), down from $7.87 million (34 cents a share). Wall Street had anticipated a loss of 15 cents a share, according to First Call's average.
For the full year 2000, VA's revenues totaled $120.3 million, an increase of 579 per cent over fiscal year 1999 revenues of $17.7 million.
"We have continued to demonstrate, quarter after quarter, strong revenue growth and improved financial results," said VA's president and CEO, Larry Augustin, President and Chief Executive Officer. "We improved our gross margins to 22 per cent and reduced our net loss, excluding non-cash charges, to 8.1 per cent of revenue." ®