Apache not a loser

Apache Software Foundation (ASF) has turned a projected loss for its most recent fiscal year into a profit [PDF].

The umbrella group for some of the industry’s best known-software projects has turned an estimated loss of $315,000 for the year into a net profit of $122,000. ASF attributed the reversal into taking in more cash than expected and cost reductions.

The group's revenue was nearly $100,000 more in than expected in fiscal 2015: $996,000 compared to $897,000. The open-source group cut its expenses by $338,000 to eventually land at $874,000. The group claimed a cash reserve of $1.755m. ®