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IN BRIEF / EARNINGS

Red Hat Reports $3.3-Million Profit

September 19, 2003|From Bloomberg News

Red Hat Inc., the world's biggest distributor of the free Linux computer-operating system, reported a second-quarter profit as sales to companies and governments more than doubled.

Net income was $3.3 million, or 2 cents a share, for the period ended Aug. 31, contrasted with a net loss of $1.95 million, or 1 cent, a year earlier. Sales climbed 36% to $28.8 million, the Raleigh, N.C.-based company said.

Chief Executive Matthew Szulik is boosting revenue by expanding sales to foreign companies and governments, mostly through selling relationships with computer companies including IBM Corp. and Fujitsu Ltd.

Shares of Red Hat declined 10 cents to $8.40 on Nasdaq.

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