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News > Companies
Red Hat 4Q loss narrows
March 27, 2000: 5:41 p.m. ET

Upstart Linux provider beats Wall Street estimates by a penny; revenue also up
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NEW YORK (CNNfn) - Linux operating system provider Red Hat Inc. turned in fourth quarter results Monday that beat analysts' expectations by a penny.
    Excluding non-cash charges and one-time acquisition-related expenses, the Durham, N.C.-based company posted a net loss for its fiscal fourth quarter ended Feb. 29 of $5.6 million, or 4 cents a share, beating First Call estimates of a loss of 5 cents. In the same quarter last year, Red Hat lost $1.25 million, or 3 cents a share.
    When the acquisition-related expenses are included, Red Hat lost $24.6 million or 17 cents a share, in this year's fourth quarter. Fourth quarter revenue rose 39 percent to $13.1 million from $9.4 million a year earlier.
    Revenue for the year rose 28 percent to $42.4 million from $33 million for fiscal 1999. Including non-cash charges and acquisition-related expenses, Red Hat's net loss for the year was $39.9 million, or 40 cents a share, versus a net loss of $5.8 million, or 12 cents a share, for fiscal 1999.
    Red Hat (RHAT: Research, Estimates) closed down 3-7/8 at 56-5/8 Monday. At its current share price, Red Hat has a market value of about $8.2 billion, or 193 times its fiscal year revenue. The company's high valuation shows that investors expect Linux to spread rapidly as an alternative to Microsoft's Windows operating system.
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    Red Hat finished the fourth quarter with about $242 million in cash, which it raised through its initial public offering and a secondary stock sale. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.