SCO loses more money

It’s time for our regular quarterly look at the SCO Group, which released its fiscal second-quarter financials today. The quarter ended on April 30.

SCO’s revenue continues to fall. Total top-line revenue for this quarter was US$6,014,000, compared to $7,126,000 in the comparable quarter last year. That’s a 15.6% drop, if I did the math right.

But while SCO continues to lose money, the rate of loss is slowing. For this quarter, it lost $(1,143,000), which is a tremendous improvement over the $(4,694,000) loss in the same quarter last year.

According to SCO, “The decrease in revenue was primarily attributable to continued competitive pressures on the Company’s UNIX products and services and the improvement in net loss was primarily attributable to reduced legal costs and operating expenses.”

The company continues to run through its cash reserves, which have fallen to $11,181,000, compared to $12,664,000 six months ago.

The big question remains: Why won’t SCO’s directors exercise their fiduciary responsibility to their shareholders: abandon the lawsuit and fire Darl McBride? SCO has significant intellectual property assets (translation: cool technology), which will never flourish until both the lawsuit and McBride are gone.