Red Hat reports narrowing losses

Linux distributor Red Hat narrowly beat analysts' expectations yesterday when it reported a loss of $1.9m for the second fiscal quarter.

Excluding special items, the reported loss of one cent per share, was a major improvement on a loss of six cents per share for the same period last year. However, including non-cash charges and one-time acquisition expenses, net loss for the quarter rose to $15.7m, or ten cents a share, compared with a loss of $4.8m, or seven cents a share, a year ago. Sales for the period jumped 76 per cent from $10.5m to $18.5m.