Utah based Unix and Linux operating system vendor SCO Group has revealed an 18% fall in Q3 revenues. Revenues for the quarter were $15.4 million compared with $18.9 million in the corresponding quarter last year. The company also unveiled net losses of $4.5 million in Q3 compared with $18.8 million in Q3 2001. SCO changed its name from Caldera International on August 26.
The reduction in net losses was attributed to SCO’s attempts to cut expenses following its acquisition of Santa Cruz Operation Inc’s Unix server and services businesses in May 2001. The company’s Q3 net loss of $4.5 million would have been even smaller but for a $1.2 million restructuring charge taken by SCO.
SCO also stated that it is anticipating revenues of between $14 and 15 million in Q4. For 2002, SCO is expecting to generate total revenues of $63-65 million. SCO believes that its gross margin will increase to 76% in Q4, while the company’s expenses will be reduced by a further 2-3% due to its continuing program of restructuring.