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CNNfn: VA Linux posts 2Q loss

Feb 25, 2000, 06:40 (2 Talkback[s])

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"Stock plunges after hours as quarter's loss exceeds expectations..."

"VA Linux Systems, a bellwether company for the rapidly growing Linux-operating system, reported a fiscal second-quarter net loss that was larger than analysts' expectations, while its revenue grew at a faster-than-expected rate. For the quarter ended Jan. 28, the provider of computer servers and workstations designed for the Linux operating system posted a loss of $11.56 million, or 50 cents per share, compared with a year-ago net loss of $1.81 million, or 44 cents per share."

"VA Linux's stock plunged 9-3/4 to 115 in after-hours trading following the larger-than-expected loss."

"Stock in the Sunnyvale, Calif.-based company jumped a record 733 percent in its first day of trading last December. However, since then it has dropped like a rock..."

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