“Linux specialist Red Hat said it will start turning a profit
sometime next year, following a sharp rise in the company’s
quarterly revenues.”
“Reporting its Q2 2000 results, yesterday, Red Hat said its
revenues rose 95 per cent year-on-year for the three months to 31
May, reaching $16.0 million from $8.2 million. Quarter-on-quarter
growth hit 22 per cent – in Q1 Red Hat recorded revenues of $13.1
million.”
“…Expect more acquisitions like WireSpeed and Bluecurve
while Red Hat continues to spend money on developing its business.
Provided revenues continue to grow at around 22 per cent a quarter
– and there’s no reason why they shouldn’t – Red Hat should indeed
be in a position to go into the black next year.“
“President and CEO Matthew Szulik’s target of profitability
sometime “in calendar 2001″ gives him plenty of room to manoeuvre
to choose the best time to declare a profit.”