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

Chris Mellor

Drives nails forged with Red Hat iron into VCE's coffin
Sleep Cycle iOS app screenshot

Trevor Pott

Forget big-spending globo biz: it's about the consumer... and he's desperate for a nap
Steve Bennet, ex-Symantec CEO

Chris Mellor

Enormo security firm needs to get serious about acquisitions

Features

Windows 8.1 Update  Storeapps Taskbar
Chinese Buffet self-service
Chopping down the phone tree to scrump low-hanging fruit
An original member of the System/360 family announced in 1964, the Model 50 was the most powerful unit in the medium price range.
Big Blue's big $5bn bet adjusted, modified, reduced, back for more
Microsoft CEO Satya Nadella
Redmond needs to discover the mathematics of trust