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Raleigh News & Observer: It's Good News and Bad on Red Hat Earnings

Sep 18, 2002, 17:30 (0 Talkback[s])

"Red Hat announced quarterly financial results in line with Wall Street analysts' expectations Tuesday evening, although the Linux company continues to await proof of its progress making the alternative operating system more palatable for corporate customers.

"Sales for the quarter that ended Aug. 31 came in at $21.2 million, up 12 percent from the same quarter last year. The Raleigh-based company reported a net loss of $1.7 million, or one cent per share, compared with a loss of about $55 million, or 31 cents per share, last year.

"Despite slow overall sales growth, the quarter's numbers show that sales of the higher-priced Red Hat Advanced Server, the company's latest software package, are doing well, said Katherine Egbert, an analyst with CE Unterberg Towbin in San Francisco..."

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