VA looks to break-even
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Posted in Business, 21st November 2001 11:30 GMT
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VA Linux says it's finally paid the bill for exiting the hardware business.
Non-hardware revenue was $3.9 million in the last quarter and with residual expenses from the strategy shift, the operating loss was $9m for the period.
CEO Larry Augustin says costs have been pared back to meet the anticipated revenues, and he expects revenue of $4.0 to $4.5 million and an operating expenditure of $8 to $8.5 million in the next quarter.
The company quit the hardware business in the summer, and concentrates on selling SourceForge collaborative code management to enterprises. It's still a significant IT publisher, owning Slashdot and NewsForge among others.
VA has more than $50 million in cash (and $19 million in stock) to burn. So it looks like it escaped from hardware in the nick of time. VA wants to be known as VA Software Corporation, pending approval from shareholders. ®
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