Mandrakesoft Turns A ProfitMandrakesoft Turns A Profit

Linux-distributor Mandrakesoft on Wednesday said it swung to a profit for the fiscal year ended Sept. 30.

The Paris-based company said net income for the 2003/2004 fiscal year was $1.85 million, or 39 cents a share, compared with a net loss of $2.65 million last fiscal year. Sales revenues rose to $6.9 million, a 33 percent increase over last year.

The net income included an exceptional income item of $892,490, due to undeclared claims dating back to the company's Chapter 11-like recovery period. Because Mandrakesoft has accumulated tax losses amounting to $30.6 million, this year's income is not subject to income tax.