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CNET News.com: Embedded Linux firm LynuxWorks files for IPO

Oct 26, 2000, 20:23 (0 Talkback[s])
(Other stories by Stephen Shankland)

"LynuxWorks has become the second embedded Linux company to file initial public offering plans, hoping to raise about $70 million for its effort to spread the operating system into non-PC computing devices."

"LynuxWorks changed its name from Lynx Real-Time Systems to emphasize its embrace of Linux, but the company continues to sell its proprietary embedded operating system, Lynx, and has yet to make any significant money off Linux. Embedded operating systems are used to run all manner of devices, from computer networking equipment and airplane radar systems to handheld computers and cell phones."

"The company has posted gradually increasing losses, from $1.8 million in fiscal 1998 to $23.3 million in fiscal 2000, which ended April 30. Revenue also has steadily increased, from $11.1 million to $20.8 million in the same period. In the three months ended July 31, the company had a pro forma net loss of $8.9 million on revenue of $6.3 million."

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