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Article: Rattled by Bailing Dot.Coms, VA Linux Pre-announces.(Company Financial Information)
- Article from:
- Client Server News
- Article date:
- November 13, 2000
CopyrightCOPYRIGHT 2000 G2 Computer Intelligence. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VA Linux Systems early Monday morning pre-announced, setting off a stock market shudder that has so far knocked roughly 45% off its stock price, sending it down to 16 1/8 Thursday. This of course is the stock that set a phenomenal $300 record when it opened less than a year ago at what may ultimately prove to be the height of the Linux craze.
VA says it is currently suffering from the dot.com fiasco. The dot.coms aren't spending the way VA was depending on, having cast its lot in with them.
As a result, VA says revenues for its first fiscal quarter, ended October 27, will be up only 10% sequentially. It will post losses between 14 cents and 16 cents a ...