Yahoo!/Reuters: VA Linux posts $290 million Q4 loss
Aug 23, 2001, 21:53 (18 Talkback[s])
"VA Linux Systems Inc. (NASDAQ:LNUX)
on Thursday posted a large fourth-quarter loss, three months after
the company said it would exit the computer hardware business and
focus on providing software and services for the alternative Linux
VA Linux posted a fourth-quarter loss of $290 million, or $5.58
per share, compared with a loss of $47.5 million and $1.15 per
share in the year-ago quarter.
The company, which cut 35 percent of its workforce on announcing
its exit from the hardware business, said its non-cash charges in
the fourth quarter totaled $267 million, including a restructuring
charge of $69.9 million. Revenues fell to $16 million from $50.7
million a year ago."