ZDNet: Red Hat Revamps, Eyes Large Corporations
Mar 21, 2002, 20:30 (25 Talkback[s])
(Other stories by Stephen Shankland)
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"Red Hat, the top seller of the Linux operating system, has
restructured to focus on big customers while cutting jobs
elsewhere, executives said Tuesday.
"Red Hat eliminated its network consulting group, which the
company acquired for $47 million in February 2001 when it bought
Planning Technology, said Chief Financial Officer Kevin Thompson.
He spoke in a conference call Tuesday to report financial results
for the company's fourth fiscal quarter of 2002, which ended Feb.
"Including restructuring and other charges, Red Hat had a net
loss of $28.9 million for continuing operations, or 7 cents per
share, on revenue of $18.6 million.