PC Week: VA Linux misses estimates, but sales surgeFeb 24, 2000, 22:21 (0 Talkback[s])
(Other stories by Larry Dignan)
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"In a statement, VA Linux said it reported an operating loss of $8.4 million, excluding stock compensation charges. Based on a pro forma share count of 32.3 million shares, the operating loss comes out to be about 26 cents a share. On a basic and diluted share count of 23.3 million, VA Linux had an operating loss of 36 cents a shares."
"The company also said its operating loss had $1 million in non-recurring non-cash charges associated with stock options issued for recruiting and marketing consulting services prior to its record-breaking IPO...."
"VA Linux, which primarily sells hardware based on the Linux operating system, said services revenue was $300,000, or 1.5 percent of total revenue. On a conference call, officials said the goal is to make services 10 percent of sales. The projection for the third quarter is that services sales will be about 5 percent of sales, said Todd Schull, chief financial officer."
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