Red Hat losses narrow

Linux vendor Red Hat reported a loss for its first quarter of 2000, but the red ink was lower than analysts' expectations.

          Linux vendor Red Hat reported a loss for its first quarter of 2000, but the red ink was lower than analysts' expectations.

          Excluding noncash, merger, acquisition and other expenses, Red Hat's loss totaled $US2.5 million for the first quarter, or 2 cents per share, compared with $3.8 million in losses for the same period last year.

          According to First Call, analysts predicted Red Hat would report a loss of 4 cents per share. Including these expenses, losses totaled $14.9 million for the period ended May 31, compared with $4.1 million a year earlier.

          Red Hat said its quarterly revenue increased 95% over last year. Sales totaled $16 million for the first quarter of 2000, up from $8.2 million last year.

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