Local News

Red Hat Beats the Street, Breaks Even in Fourth-Quarter

Posted March 21, 2001 6:00 a.m. EST

— RTP-basedRed Hat, Inc.beat Wall Street expectations, breaking even in the company's fiscal fourth-quarter. The Street believed that the company would post a loss of one penny per share.

After the close of trading Thursday, Red Hat said its loss for the quarter ended Feb. 28 was $600,000, which it said means it broke even on a per-share basis.

At $27 million, Red Hat's fourth-quarter revenue rose 106 percent from the year-ago quarter. It was slightly ahead of analysts' expectation of $26.7 million.

For the full fiscal year was $84 million, making a $5.9 million net loss for the fiscal year, compared with a loss of $19 million the year earlier.