Red Hat earnings up

For the quarter ending August 31, 2000, Red Hat reported revenue of $US18.5 million and an increase in gross margins of 58 per cent. These figures beat $Us10.5 million in revenue for the same period last year.

Red Hat reported an adjusted net loss for the second quarter of fiscal 2001 of $US1.9 million or negative earnings per share of Us$0.01 per share. Shares of Red Hat closed up almost 5 percent to finish Thursday's trading at $25.25 per share.

The Linux vendor met its revenue growth goals and continues to improve operating efficiency, Matthew Szulik, Red Hat chief executive officer and president, said in a company statement.

The vendor also highlighted a number of acquisitions and partnerships made during the past quarter as reasons behind its continued growth. Wirespeed Communications -- a network and telecommunications components developer -- and C2Net Software -- developer of the Apache-based Stronghold secure Web server -- were acquired by Red Hat to increase the company's Internet-related technologies. Additionally, IBM agreed to bundle Red Hat's Linux-based software into Big Blue's e-business offerings.

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Ashlee Vance

PC World
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