Red Hat yesterday released its results for the first quarter of its 2004 financial year.
The company reported net income of $1.5m for the period, compared to a net loss of $273,000 in the previous quarter, and a net loss of $4.6m in the same quarter a year ago.
Overall the company reported a net operating loss of $1.1m. This compared to a net operating loss of $2.4m in the previous quarter and a net operating loss of $7.2m in the first quarter of fiscal year 2003.
Red Hat generated revenues of $27.2m, an increase of five per cent compared to the fourth quarter of fiscal 2003, and a year-over-year increase of 39 per cent.
"Red Hat continues to show strong operating performance, including solid growth in cash flows, deferred revenues, and net income, which translates into continued leverage of our business model," said Kevin Thompson, executive vice president and chief financial officer.
First-quarter annual subscriptions for the Red Hat Enterprise Linux family of technologies increased by 10 per cent to 23,500.
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