CNET News: Red Hat Reports a Profit and a Purchase

“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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