OREM, UT -- Caldera International, Inc. (Nasdaq: CALD) today reported revenue of $18.9 million for the three months ended October 31, 2001. For the year ended October 31, 2001, revenue was $40.4 million, in line with the Company's previous guidance. "This is the second quarter the Company has operated within the guidelines of our operating model as we drive the Company toward profitability. We are pleased to have met our financial projections in each of these past two quarters despite challenging economic conditions," said Ransom Love, President and CEO of Caldera. "As a result of our expense-reducing activities, approximately $2.0 million of annual compensation expenses have been eliminated. Operating costs this quarter were $3.9 million less than the previous quarter as a result of our restructuring activities." "A positive indicator not reflected in the current quarter is that our sales in the pipeline are much stronger as we end this quarter than we have seen for several quarters," said Mr. Love. The Company reported a net loss to common stockholders for the three months ended October 31, 2001 of $91.0 million or $1.60 per common share, which includes non-cash charges of $80.8 million and restructuring charges of $3.1 million. Exclusive of the effects of the non-cash and restructuring charges, the net loss for the fourth quarter would have been $7.1 million, or $0.12 per basic and diluted share. "After evaluating current market and other conditions during the fourth quarter, we determined that various assets related to the operations acquired from Tarantella were impaired and that the book value exceeded the current estimates of fair value. As a result we recorded a $73.7 million write-down of goodwill and intangibles," said Love. The net loss to common stockholders for the year ended October 31, 2001 was $131.4 million or $2.73 per common share, including non-cash charges of $95.5 million and restructuring charges of $3.1 million. Exclusive of the effects of the non-cash and restructuring charges, the net loss for the year would have been $32.7 million, or $0.68 per basic and diluted common share. Results for the three and twelve-month periods ended October 31, 2001, are not comparable to the results for the three and twelve-month periods of the prior year because of the significant changes in the operations of the Company as a result of the major acquisition completed in the third quarter of 2001. "During this quarter we continued to provide trusted business solutions and services to our worldwide customers including McDonald's, CVS Pharmacy, Rite Aid Pharmacy, Eckerd, Shopper's Drug Mart, NASDAQ, Goodyear, BMW, Michael's, Tyson Chicken, Publix Super Markets, Polish Ministry of Finance, The China Post, Ministry of Administration in Korea, and the Savings Bank of Russia," said Love. "We are also seeing an increase in the number of software platform providers who are certifying their products on Caldera Open UNIX 8 including such companies as Informix, Oracle, Progress and Sybase." Financial outlook The following statements are based on current expectations. These statements are forward looking and actual results may differ materially. -- For the first quarter of fiscal 2002, we expect net revenue to be $16 to $18 million. -- For the first quarter of fiscal 2002, we expect the gross margin to remain consistent at 68 to 70 percent and operating costs to decrease by approximately 5 to 7 percent as a result of recent cost-cutting actions. -- For fiscal 2002, we expect net revenue will increase during quarters two through four by 3 to 5 percent per quarter. -- For our fiscal year ending October 31, 2002, we expect net revenue of $68 million to $75 million. Additional information is available at www.caldera.com