"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
"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
"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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