Reuters UK: Red Hat Posts Narrower First-Quarter Loss

"Red Hat Inc. on Tuesday posted a smaller first-quarter net loss as it cut expenses to offset an 8 percent drop in revenue related to sales of the Linux computer operating system.

"Red Hat, based in Raleigh, North Carolina, said its net loss narrowed to $4.3 million, or 3 cents per share, from a net loss of $27.6 million, or 16 cents a share, a year earlier.

"Excluding amortization of goodwill, stock-based compensation and other charges, the supplier of Linux posted an operating loss of $829,000, or nil per share, for the quarter ended May 31. That compared with a loss of $154,000, or nil per share, a year earlier..."

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