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..."