"Red Hat... said that losses for the first fiscal quarter 2001,
excluding extraordinary events, came to $2.5 million, or 2 cents a
share. Analysts expected the North Carolina company to report
losses of 4 cents a share. Revenues, meanwhile, came to $16
million, a 95 percent increase from revenues of $8.2 million in the
first fiscal quarter of 2000. The figure represents an increase of
22 percent over revenues of $13.1 million in the company's fourth
"If we are successful, Red Hat may become the Wal-Mart of the
Linux business," Robert Young, Red Hat's chairman, said in an
interview earlier this week. "We have every intention of making
this a high-margin services business."
"Q1 performance represents continued execution against our
plan to double revenue and become profitable in 2001 while
leveraging our acquisitions to enter new markets and create new
revenue streams," CEO Matthew Szulik said in a statement."
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