By Sonya Rabbitte, 21 November 2001 12:28
NEWS First quarter revenues for VA Linux Systems plunged tenfold on last year's figures after the company pulled out of the server market. The company posted losses of $55m for Q1 2002 based on revenues of $5.6m. In the same period last year, while still active in the server market, the company reported a net loss of $51m on revenue of $56m. Excluding charges, the company reported a loss of $8.7m or 16 cents a share for the quarter. As hardware sales slow down, and competition from established vendors toughens up, the company is repositioning itself as a software provider. Despite withdrawing from the hardware market, $1.7m of first quarter revenue still came from server sales.
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