June 12, 2004

SCO Defiant Amid Financial Losses

As it battles on to claim copyright infringement in select parts of the Linux kernel, Lindon, Utah-based SCO Group (Quote, Chart) reported second quarter revenues that were about 52 percent lower than the same time last year.

The company said its net loss for the quarter was $15 million ($1.06 a share) in its fiscal second quarter, on revenues of $10 million. During the same time last year, SCO's profit was $4.5 million (33 cents per share) on revenues of $21.4 million.

However, SCO continued to report a strong cash position with a balance of over $61 million as of April 30.

Link: InternetNews

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