SCO makes a profit, increases revenue
Published: 28 May 2003 14:21 BST
The SCO Group, embroiled in a high-profile intellectual property dispute, on Wednesday reported net income of $4.5m (£2.75m) on revenue of $21.4m for the second quarter.
The company, which owns the rights to Unix intellectual property, said that $13.1m of the revenue came from its operating systems and $8.3m from its licensing program. Earnings per share for the quarter, which ended 30 April, came in at 33 cents.
In the same quarter a year ago, the company posted a net loss of $6.6m on revenue of $15.5m. The results for the April quarter mark the first time the company has logged net income, SCO said.
The company said that it expects revenue for the third quarter, which ends 31 July, to be in the range of $19m to $21m, with about two-thirds of the revenue coming from operating systems, and one-third from licensing.
Earlier this month, SCO created an uproar in the software community with a $1bn lawsuit against IBM, alleging that Big Blue misappropriated SCO's trade secrets by building Unix intellectual property into Linux. In a broader accusation, the company claims that its Unix code has been copied line for line into Linux, the open-source operating system.
In its April results, the company touted early success for its SCOsource initiative to license and protect its Unix property. SCO said that the first two licensing agreements related to the initiative provided the company with $8.8m in cash and added $6.1m to its gross margin. SCO said that there are more than 6,000 source code licensees of the Unix operating system.
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