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VA Linux Meets Lowered Estimates

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VA Linux

(LNUX)

, which warned earlier this month that earnings and revenue would miss analysts' forecasts, reported first-quarter results that met Wall Street's lowered estimates.

The company's first-quarter loss, excluding noncash items, narrowed to $7 million, or 15 cents a share, in line with the lowered estimates, from $7.2 million, or 27 cents a share, in the year-ago period.

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Revenue rose to $56.1 million from $14.8 million a year ago.

VA Linux, a provider of the Linux operating system and open source software, said that "while top and bottom-line results did not meet our expectations for the quarter, we remain optimistic about our prospects for growth in the future. We remain committed to profitability, excluding noncash charges, no later than the end of calendar 2001."