NEW YORK (CNNfn) - VA Linux Systems Inc., which provides computer products and services based on the Linux operating system, reported a fiscal first quarter loss that was in line with analysts' reduced expectations and said that it aims to become profitable by the end of calendar 2001.
After the close Thursday, Fremont, Calif.-based VA Linux (LNUX: Research, Estimates) reported a fiscal first quarter loss of $7.04 million, or 15 cents per share, versus a loss of $7.2 million, or 27 cents, in the same period last year. That was even with the mean analyst estimate and with guidance that the company gave on Nov. 6
Revenue in the quarter ended Oct. 27 rose to $56.1 million from $14.8 million in the same period last year.
"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," said Dr. Larry Augustin, president and CEO of VA Linux, in a statement. "We remain committed to profitability, excluding non-cash charges, no later than the end of calendar 2001 and we anticipate revenue for fiscal 2001 to be approximately 2.25 times fiscal 2000 revenue."
Shares of VA Linux tumbled more than 40 percent on Nov. 6, after the company warned of a fiscal first-quarter revenue shortfall because of slowing spending by Internet companies.
The company's shares closed down 56 cents at $12 in regular trading Thursday. They gained $2.12 to $14.12 in after-hours trading on Instinet. 
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