CRN: Despite Higher Sales, Red Hat Reports 2Q Loss

“Red Hat Inc. reported sharply higher second-quarter
revenue, but still reported a loss as its cost of sales kept pace
with growth.

The Linux software vendor reported a loss of $3.1 million on
sales of $4.4 million for the quarter ended Aug. 31. The company
posted revenue of $2.3 million in the same quarter last year.

The loss for the most recent quarter totaled 9 cents per share,
compared with analysts’ estimates of a 5-cent-per-share loss,
according to First Call Corp. During the same period in 1998, Red
Hat earned $132,000, or a penny a share.”