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CNET News: Red Hat Reports Slim Profit

Dec 18, 2002, 14:30 (20 Talkback[s])
(Other stories by Stephen Shankland)

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Red Hat's revenue increased 14 percent to $24.3 million for its third fiscal quarter with a small profit of $305,000, the Linux seller reported Tuesday.

"The Raleigh, N.C.-based company's performance for the quarter, ended Nov. 30, did slightly better than projections from analysts surveyed by First Call. Revenue was higher than the consensus expectation of $23.4 million, with break-even earnings per share meeting the estimate.

"It's the first time Red Hat has reported a profit using Generally Accepted Accounting Principles (GAAP), according to the company. In the year-ago quarter, it posted a net loss of 9 cents per share on revenue of $21.2 million..."

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