The Channel logo

News

By | John Oates 6th February 2008 10:55

SCO details bleak future

Reorganisation may kill it

SCO has filed its latest annual report with the Securities and Exchange Commission, and it makes grim reading.

The company warns that its shareholders could end with nothing because: "A plan of reorganization could result in holders of our stock receiving no distribution on account of their interests and cancellation of their existing stock." SCO is Chapter 11 - US bankruptcy protection.

It warns that its court case with Novell might have to be abandoned if its assets are frozen.

Revenue from SCO's Unix business fell 26 per cent compared to last year to $21.6m and it made a loss of $2.9m. SCO said: "The revenue from our UNIX business has been declining over the last several years primarily as a result of continued competition from alternative operating systems, particularly Linux and from the negative publicity of the SCO Litigation."

The complete 10K is here. ®

comment icon Read 44 comments on this article alert Send corrections

Opinion

Memristor_wafer

Chris Mellor

Execution warrant close to being signed for Fink's folly
Woman cuddles 'sly-looking' Fennec fox. Photo by Shutterstock
Cartoon of employee asking wky boss makes hium wear suspenders (while pincer through open trapdoor remains poised above his head) illustration by Cartoon resource for Shutterstock

Frank Jennings

It's not like my boss painstakingly nurtured the contacts, right?

Features

Girl and computer, photo via Shutterstock
Middle-class terror of engineering also part of problem
Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world