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CNET News: Red Hat Reports a Profit and a Purchase

Dec 19, 2003, 14:00 (9 Talkback[s])
(Other stories by Stephen Shankland)

"Red Hat's quarterly profit and revenue hit all-time highs, the Linux seller said Thursday, as it announced an agreement to acquire storage specialist Sistina Software for about $31 million in stock.

"The Raleigh, N.C.-based company had net income of $4.1 million, or 2 cents per share, for the third quarter of fiscal 2004, which ended Nov. 30. That compared with $214,000 for the year-earlier quarter and matched an average of analyst estimates compiled by First Call.

"Red Hat's revenue grew 36 percent to $33.1 million, surpassing the estimates by Merrill Lynch's Jason Maynard, who expected $31.4 million, and W.R. Hambrecht's Sameer Nadkarni, who expected $31.8 million..."

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