VA Linux Systems, Inc. (Nasdaq: LNUX) rose 6 7/8 to 44 Thursday after reporting record revenues for the quarter ended July 28th.
VA Linux said its fiscal fourth quarter revenues totaled $50.7 million — 46 percent higher than the previous quarter, and 547 percent over 1999 fourth quarter earnings. Annual revenues for the entire 2000 fiscal year were $120.3 million, a 579 percent increase over the $17.7 million earned in 1999.
“We improved our gross margins to 22 percent and reduced our net loss, excluding non-cash charges, to 8.1 percent of revenue,” said VA Linux president and CEO Larry M. Augustin. “It is gratifying to see the positive response our products and services have received in the Internet infrastructure market.”
Based in Sunnyvale, California, VA Linux provides servers, systems and software for e-businesses and technology companies using Linux and open-source applications.