LINDON, Utah, June 5 /PRNewswire-FirstCall/ -- The SCO Group, Inc.
(NASDAQ:SCOX), a leading provider of UNIX(R) software technology
and mobile services, today reported results for its second quarter
ended April 30, 2007. Revenue for the second quarter of fiscal year
2007 was $6,014,000, down from $7,126,000 for the comparable
quarter of the prior year. The net loss for the second quarter of
fiscal year 2007 was $(1,143,000), or $(0.05) per diluted common
share, an improvement over the net loss of $(4,694,000), or $(0.22)
per diluted common share, for the comparable quarter of the prior
year. Revenue for the first two quarters of fiscal year 2007 was
$12,029,000, down from $14,469,000 for the first two quarters of
the prior fiscal year and the net loss for the first two quarters
of fiscal year 2007 was $(2,167,000), or $(0.10) per diluted common
share, an improvement over the net loss of $(9,275,000), or $(0.45)
per diluted common share for the first two quarters of the prior
fiscal year. 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. "Even though
competition continues to impact our revenue, we are pleased that
our legal costs and operating expenses are lower than the
comparable prior periods which improved our financial results,"
said Darl McBride, president and CEO. "We are committed to our
strategy of serving our UNIX customers, developing innovative new
mobile technologies and protecting our valuable intellectual
property." Legal and related costs incurred in connection with the
Company's litigation were $1,066,000 for the second quarter of
fiscal year 2007, which was down significantly from costs of
$3,762,000 for the comparable quarter of the prior year. Because of
the unique and unpredictable nature of the Company's litigation,
the occurrence and timing of litigation-related costs is difficult
to predict, and will be difficult to predict in the future. While
the Company expects to continue to incur legal costs related to its
ongoing litigation during the 2007 fiscal year, the Company's
expectation is that fiscal 2007 costs will be less than they were
for the 2006 fiscal year. Cash and cash equivalents,
available-for-sale marketable securities and restricted cash to be
used for certain legal expenditures totaled $11,181,000 as of April
30, 2007, compared to $12,664,000 as of October 31, 2006. The
Company's Business During the second quarter of fiscal year 2007,
the Company worked closely with customers and partners to offer new
solutions to the marketplace. The Company announced that it had
partnered with April System Design and Alpha Micro to help
customers extend the life of their UNIX applications. Through this
partnership, customers can convert their green screen UNIX
applications to a modern new graphical interface without the need
to rewrite applications or make large investments in software
development. This saves customers valuable time and money by
allowing them to stay on their familiar and reliable SCO UNIX
platform while continuing to use their existing applications. The
Company recently announced a new release of HipCheck, a unique
mobile technology designed to remotely control and manage UNIX and
Windows server and PC systems. The new version of HipCheck extends
the product's capabilities in terms of feature sets and the number
of mobile handheld devices that are supported. At the recent CTIA
Wireless Show, the Company exhibited many of its current and beta
mobile technologies, including a soon to be released mobile
technology that enables users to manage their life on the go. The
Company's latest release of Shout Postcard received favorable press
coverage and product reviews during the CTIA Wireless Show. Shout
Postcard is the Company's new mobile technology for sharing life's
moments on the go with a personalized, multimedia postcard. Shout
Postcard creates a rich, mobile experience by combining pictures,
audio and text into a unique postcard that users can share through
e-mail or other smart phones. A free download and more information
on Shout Postcard may be obtained by visiting
http://www.shoutpostcard.com/. Conference Call As previously
announced, The SCO Group will host a conference call at 5:00 p.m.
EST today, June 5, 2007, to discuss the second quarter 2007
results. To participate in the teleconference, please call toll
free 1-800-952-4629 or use the toll number 1-212-231-2901;
confirmation code: 21340130, approximately ten minutes prior to the
time stated above. A listen-only Webcast of the call will be
broadcast live with a replay available the following day. The
Webcast and replay may be accessed from
http://ir.sco.com/events.cfm. Forward-Looking Statements The
statements contained in this press release regarding (i) our
commitment to our UNIX business, moving forward with our mobile
services and defending our intellectual property rights, (ii) our
expectation that our legal costs will be less in fiscal 2007 than
in fiscal 2006, and (iii) other statements that are not historical
facts are forward-looking statements and are made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's current
expectations and are subject to risks and uncertainties. We wish to
advise readers that a number of important factors could cause
actual results to differ materially from historical results or
those anticipated in such forward-looking statements. These factors
include, but are not limited to, continued competitive pressure on
the Company's operating system products, which could impact the
Company's results of operations, adverse developments in and
increased or unforeseen legal costs related to the Company's
litigation, the inability to devote sufficient resources to the
development and marketing of the Company's products, including the
Me Inc. mobile services and development platform, and the
possibility that companies with whom the Company has formed
partnerships will decide to terminate, or reduce the resources
devoted to, their partnership with the Company. These and other
factors that could cause actual results to differ materially from
those anticipated are discussed in more detail in the Company's
periodic and current filings with the Securities and Exchange
Commission, including the Company's Form 10-K for the fiscal year
ended October 31, 2006 and Form 10-Q for the fiscal quarter ended
January 31, 2007. These forward-looking statements speak only as of
the date on which such statements are made, and the Company
undertakes no obligation to update such statements to reflect
events or circumstances arising after such date. About The SCO
Group The SCO Group (NASDAQ:SCOX) is a leading provider of UNIX
software technology and mobile services, offering SCO OpenServer
for small to medium business, UnixWare for enterprise applications,
and Me Inc. for mobile services. SCO's highly innovative and
reliable solutions help millions of customers grow their businesses
everyday, from SCO OpenServer on main street to UnixWare on Wall
Street, and beyond. SCO owns the core UNIX operating system,
originally developed by AT&T/Bell Labs and is the exclusive
licensor to UNIX-based system software providers. Headquartered in
Lindon, Utah, SCO has a worldwide network of thousands of resellers
and 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, SCO OpenServer, Me Inc. and the
associated SCO logo are trademarks or registered trademarks of The
SCO Group, Inc. in the U.S. and other countries. UNIX and UnixWare
are registered trademarks 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. The SCO Group
Announces Second Quarter 2007 Results Condensed Consolidated
Balance Sheet Data (unaudited, in thousands) April 30, October 31,
2007 2006 Assets: Cash and cash equivalents $7,787 $5,369
Restricted cash 5,389 8,024 Available-for-sale marketable
securities -- 2,249 Accounts receivable, net 4,320 5,123 Other
1,402 1,514 Total current assets 18,898 22,279 Property and
equipment, net 454 608 Other 495 522 Total assets $19,847 $23,409
Liabilities: Accounts payable $1,867 $2,338 Accrued payroll and
other expenses 4,363 5,566 Deferred revenue 3,120 2,994 Other 3,115
4,237 Total current liabilities 12,465 15,135 Long-term liabilities
189 192 Stockholders' equity 7,193 8,082 Total liabilities and
stockholders' equity $19,847 $23,409 The SCO Group Announces Second
Quarter 2007 Results Condensed Consolidated Statement of Operations
Data (unaudited, in thousands, except per share data) Three Months
Ended Six Months Ended April 30, April 30, 2007 2006 2007 2006
Products revenue $4,895 $5,703 $9,761 $11,703 SCOsource licensing
revenue -- 34 23 64 Services revenue 1,119 1,389 2,245 2,702 Total
revenue 6,014 7,126 12,029 14,469 Cost of products revenue 335 497
712 1,081 Cost of SCOsource licensing revenue 1,066 3,762 1,720
7,772 Cost of services revenue 546 709 1,105 1,346 Total cost of
revenue 1,947 4,968 3,537 10,199 Gross margin 4,067 2,158 8,492
4,270 Operating expenses: Sales and marketing 2,393 2,857 4,833
5,545 Research and development 1,554 1,886 3,313 3,757 General and
administrative 1,351 1,718 2,674 3,310 Amortization of intangibles
-- 593 -- 1,185 Total operating expenses 5,298 7,054 10,820 13,797
Loss from operations (1,231) (4,896) (2,328) (9,527) Equity in
income (loss) of affiliate 64 -- 106 (8) Other income, net 105 316
248 461 Loss before provision for income taxes (1,062) (4,580)
(1,974) (9,074) Provision for income taxes (81) (114) (193) (201)
Net loss $(1,143) $(4,694) $(2,167) $(9,275) Basic and diluted net
loss per common share $(0.05) $(0.22) $(0.10) $(0.45) Weighted
average basic and diluted common shares outstanding 21,233 20,994
21,209 20,520 DATASOURCE: The SCO Group, Inc. CONTACT: Craig
Bushman of The SCO Group, Inc., +1-801-932-5635, Web site:
http://www.sco.com/ http://www.shoutpostcard.com/
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