Mandrakesoft exits bankruptcy protection
PrintLinux sales propel distro to escape velocity
Posted in Hardware, 31st March 2004 10:11 GMT
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Increased Linux sales have enabled Mandrakesoft to emerge from bankruptcy protection.
A French Commerce Court yesterday accepted Mandrakesoft's exit plan from 'redressement judiciaire' (Chapter II-like bankruptcy protection).
The plan provides for the payment of creditors over a period of nine years. Mandrakesoft's return to normal operations comes after it recently posted its first profitable quarter since 1999. In Q4 2003, Mandrakesoft recorded profits of €270,000 on revenues of €1.42m.
Mandrakesoft filed for bankruptcy protection n January 2003. Since then the company has restructured its business to focus on Linux. In doing so Mandrakesoft has slashed costs, simplified its business structure and develop some high-margin revenue lines.
Its shares will once again be listed on the Euronext Marché Libre exchange and on the US OTC market.
Mandrakesoft plans to release its new operating system "Mandrakelinux 10.0 Official" in May 2004. ®
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