Red Hat narrows losses slightly in Q4

Red Hat Software on Thursday reported a loss for its fourth fiscal quarter that narrowed from a year ago, while revenue more than doubled, to US$27 million, the company said in a statement.

On a reported basis, the provider of Linux softare and services lost $24.2 million or $0.14 a share, which compares with a loss of $24.6 million, or $0.17 per share, in the fourth quarter of fiscal 2000. After adjustments the loss was $600,000, or break even on a per share basis, compared with an adjusted loss of $5.6 million, or $0.04 per share, a year ago.

The consensus estimate from analysts was for Red Hat to report a loss of $0.01, according to First Call/Thomson Financial.

Revenue for the quarter, which ended Feb. 28, was $27 million, up 106 percent from $13.1 million a year ago, Red Hat said.

Red Hat's growth was driven in part by expanding its offerings to global customers, Matthew Szulik, Red Hat president and chief executive, said in a statement. During the quarter the company secured committments to use its software from, among others, Deutsche Telekom , Lufthansa Airplus, Nortel Networks and Keio University in Japan.

For fiscal 2001 as a whole revenue was $84 million, compared to $42 million in fiscal 2000, Red Hat said. The adjusted net loss for fiscal 2001 was $5.9 million or $0.03 per share, which compares to $19 million or $0.19 per share for fiscal 2000.

Red Hat's [RHAT] shares on the Nasdaq closed at $5.22 ahead of the news, level with the previous day.

Red Hat, in Research Triangle Park, North Carolina, is at +1-919-547-0012, or at http://www.redhat.com/.

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