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Yahoo!/Reuters: VA Linux posts $290 million Q4 loss

Aug 23, 2001, 21:53 (18 Talkback[s])

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"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 operating system.

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."

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