SCO Announces Increase in Earnings
SCO Information
FOR IMMEDIATE RELEASE CONTACT:
Jeff Finn
The Santa Cruz Operation, Inc.
TEL: 408/427-7671
FAX: 408/427-7319
Tim Donovan
Rourke & Company
TEL: 617/267-0042
FAX: 617/267-1862
SCO ANNOUNCES INCREASE IN EARNINGS
Highest Quarterly Revenue in SCO History
SANTA CRUZ, CA (July 19, 1994) -- (NASDAQ:SCOC), The Santa Cruz
Operation, Inc. (SCO) today announced net income of $4,398,000 or
$0.14 per share for the third fiscal quarter of 1994, an increase
of 100% from net income of $1,937,000 or $0.07 per share for the
third fiscal quarter of 1993.
Revenues of $48,148,000 for the quarter ended June 30, 1994, were
the largest in company history and represented an increase of 13%
compared to revenues of $42,744,000 for the comparable quarter in
1993. Commenting on the increase in revenues Lars Turndal, SCO
President and Chief Executive Officer said, "Our business in the
United States strengthened during the quarter and we experienced
several significant large account wins worldwide."
Revenues for the first nine months of fiscal 1994 totaled
$133,506,000, compared with $131,497,000 for the first nine
months of fiscal 1993. Net income for the same period was
$8,364,000 or $0.26 per share, compared with $9,638,000 or $0.34
per share for the comparable period in 1993.
"We are pleased with the improved financial results for the third
quarter," Turndal said. "To achieve these results in the quarters
ahead, we will continue our demand generation programs,
reallocation of resources, tight expense controls and increased
operating efficiencies."
Turndal cited a number of significant events at SCO during the
quarter. In May, SCO announced the addition of Alok Mohan as
Chief Financial Officer and Senior Vice President of Operations.
"A twenty-one year veteran of NCR, Alok brings proven leadership
and strategy skills to SCO," said Turndal. In June, SCO announced
the appointment of Businessland founder and Chief Executive
Officer of N.A.T., David Norman, to its board of directors.
SCO is the world leader for UNIX System servers (source: IDC).
Businesses and governments use SCO Open Systems Software to run
their critical operations, accessing information across local,
national and international boundaries and networks. SCO sells and
supports its products in more than 80 countries through a
worldwide network of distributors, resellers, systems
integrators, and OEMs.
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SCO, the SCO logo, The Santa Cruz Operation, and SCO Open Server
are registered trademarks of The Santa Cruz Operation, Inc. in
the U.S.A. and other countries. All other brand or product names
are or may be trademarks of, and are used to identify products or
services of, their respective owners.
Elisheva Steiner
Corporate Public Relations/Managing Editor, SCO News Bureau
408-427-7252 or 408-427-7253/Fax: 408/427-5418
el...@sco.com