Caldera Announces Q1 Results: SCO Acquisition Cited as Cause of Greater Losses than Q4Feb 28, 2001, 23:33 (1 Talkback[s])
(Other stories by Michael Hall)
Caldera held a teleconference today to announce its quarterly financial results. According to the company, net losses for the quarter totalled less than this time last year, and were only higher than last quarter because of the expenses associated with its acquisition of SCO.
Representatives for the company also said higher losses were expected as it moves more completely from the retail market and begins to center its efforts on business-to-business markets.
From the Caldera press release:
Caldera Systems, Inc. (Nasdaq: CALD), a "Linux for Business" leader, today reported revenue of $1.1 million for the three months ended January 31, 2001, a 90 percent increase over revenue of $553,000 for the comparable three-month period of the previous fiscal year and a 10 percent decrease from revenue of $1.2 million for the prior quarter ended October 31, 2000. The Company reported a net loss for the three months ended January 31, 2001 of $9.8 million, or $0.25 per common share, compared with $15.5 million, or $0.63 per common share, for the same three-month period of the previous fiscal year and $6.9 million, or $0.18 per common share, for the three-month period ended October 31, 2000. The net loss for the current quarter included a one-time cost sharing charge relating to the SCO acquisition of $602,000, whereas the comparable quarter for the prior fiscal year included a $10 million charge for dividends. "Strategically we are moving to a more economic model of Business to Business, including corporate and OEM partnerships and strategic alliances," said Ransom Love, president and CEO of Caldera Systems, Inc. "Corporate sales are growing and corporate and OEM sales have surpassed retail sales." First Quarter 2001 Company highlights include: