“Red Hat, the leader in open source Internet infrastructure
solutions, today reported revenue of $16.0 million for the first
quarter ended May 31, 2000, a 95% increase over revenue of $8.2
million for the first quarter last year, and 22% higher than fourth
quarter 1999 revenue of $13.1 million. Gross margins increased
to 54.0% for the quarter, a 6.6 percentage point improvement over
the prior quarter.“
“Adjusting for non-cash, merger, acquisition and other expenses,
the Company reported a net loss for the first quarter of fiscal
2001 of $2.5 million, or $0.02 per share, compared to an adjusted
net loss for the first quarter of fiscal 2000 of $3.8 million, or
$0.08 per share. On a reported basis, the net loss was $14.9
million, or $0.10 per share, compared with a net loss of $4.1
million, or $0.08 per share, for the first quarter of fiscal
2000.”
“Commenting on the results, Matthew Szulik, president and CEO of
Red Hat, Inc., said, “Q1 performance represents continued execution
against our plan to double revenue and become profitable in
calendar 2001 while leveraging our acquisitions to enter new
markets and create new revenue streams.”