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BW: Red Hat Second Quarter Revenue Soars 76% to $18.5 Million

“Red Hat, Inc. (Nasdaq: RHAT), the leader in open source
Internet infrastructure solutions, today reported revenue of $18.5
million for the second quarter ended August 31, 2000, a 76%
increase over revenue of $10.5 million for the second quarter last
year, and 15% higher than first quarter 2001 revenue of $16.0
million. Gross margins increased to 58% for the quarter, a 3.8
percentage point improvement over the prior quarter.”

“The Company reported an adjusted net loss for the second
quarter of fiscal 2001 of $1.9 million, or $0.01 per share,
compared to an adjusted net loss for the second quarter of fiscal
2000 of $4.3 million, or $0.06 per share. On a reported basis, the
net loss was $15.7 million, or $0.10 per share, compared with a net
loss of $4.8 million, or $0.07 per share, for the second quarter of
fiscal 2000.”

“Commenting on the results, Matthew Szulik, president and CEO of
Red Hat, Inc., said, “Demand for Open Source solutions is
expanding globally across our lines of business, enterprise, small
and medium sized business, and equipment manufacturers. We continue
to execute to our plan of revenue growth while improving our
operating efficiency.


Press Release