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BW: Red Hat, Inc. Reports Strong Revenue Gains in Second Fiscal Quarter

Red Hat, Inc…reported that its revenues totaled $4.4
million in its second fiscal quarter, which ended on August 31,
1999. This is a 95% increase over revenues of $2.3 million for the
same period a year earlier.

“The Company had a net loss of $3.1 million, or $0.09 per share,
in the second quarter of fiscal year 2000, compared with net income
of $0.1 million, or $0.01 per share, in the second quarter of
fiscal 1999. Had the Company’s initial public offering been
completed at June 1, 1999, the Company’s weighted average common
shares outstanding for the three months ended August 31, 1999 would
have been 67,835,538, which would have resulted in a net loss per
common share of $0.05 for such period.”

“In the six months ended August 31, 1999, Red Hat’s revenues
were $7.2 million, 89% higher than revenues of $3.9 million in the
first half of the preceding fiscal year. The net loss was $5.2
million, or $0.18 per common share, in the current fiscal year’s
first six months, as compared to $3.1 million or $0.09 per common
share for the same period in the prior fiscal year. Had the
Company’s initial public offering been completed at March 1, 1999,
the Company’s weighted average common shares outstanding for the
six months ended August 31, 1999 would have been 66,532,172, which
would have resulted in a net loss per common share of $0.08 for
such period.”


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