The SCO Group Logo

Print Print page | Email Email page | PDF Download PDF | Add to Briefcase Add to briefcase
« Previous Release | Next Release »



The SCO Group Will Now Report Fiscal 2003 Earnings on December 22, 2003

Additional Time Will Enable the Company to Finalize the Accounting Treatment for Its Recent Series A Preferred Stock Transaction No Impact Expected on Fiscal Year 2003 Revenue or Cash Balance

LINDON, Utah, Dec 05, 2003 -- The SCO Group, Inc. (Nasdaq: SCOX), a leading provider of Unix based solutions, announced today that its earnings release and investor conference call previously scheduled for December 8, 2003 at 9:00 am Mountain Standard Time, will be moved to December 22, 2003 at 9:00 am Mountain Standard Time in order for the Company to finalize the accounting treatment for its recent $50 million Series A Convertible Preferred Stock transaction. The Company is in the process of performing a valuation of the conversion feature associated with the Series A Convertible Preferred Stock. The Company will utilize the services of an outside advisor to assist the Company in its valuation of the conversion feature.

The accounting for the Series A Convertible Preferred Stock will not impact the Company's revenue or cash balance. The Company also reiterates that its revenue for the fourth quarter ended October 31, 2003 will be consistent with the Company's prior guidance of $22 million to $25 million.

Upon the completion of the valuation and accounting for the conversion feature associated with the Series A Convertible Preferred Stock, the Company will release its year-end financial results.

Forward Looking Statements

This press release contains forward-looking statements relating to our postponed earnings release date, our expected revenue for the quarter ended October 31, 2003 and the finalization of the accounting treatment for our recent Series A Convertible Preferred Stock transaction. These forward- looking statements are subject to risks and uncertainties including (1) our final revenue for the quarter ended October 31, 2003 is subject to completion of our audit and any related audit adjustments, and (2) the valuation of the conversion feature associated with the Series A Convertible Preferred Stock has not yet been completed. Other risks and uncertainties related to our business are described in our filings with the Securities and Exchange Commission.

About SCO

The SCO Group, Inc.(Nasdaq: SCOX) helps millions of customers in more than 82 countries to grow their businesses everyday. Headquartered in Lindon, Utah, SCO has a worldwide network of more than 11,000 resellers and 4,000 developers. SCO Global Services provides reliable localized support and services to partners and customers. For more information on SCO products and services, visit http://www.sco.com .

SCO and the associated SCO logo are trademarks or registered trademarks of The SCO Group, Inc. in the U.S. and other countries. UNIX is a registered trademark of The Open Group. All other brand or product names are or may be trademarks of, and are used to identify products or services of, their respective owners.

SOURCE The SCO Group, Inc.

Copyright (C) 2003 PR Newswire. All rights reserved. 

News Provided by COMTEX

Close window | Back to top