Red Hat Posts Its Best Quarter Yet

Posted by CowboyNeal on Thursday September 18, 2003 @08:26PM from the more-than-just-hanging-in-there dept.

wrinkledshirt writes "Anybody remember the days when the naysayers said you couldn't build a viable business model centered around open-source software? After Red Hat's 2nd quarter report, well, insert(&mouth, FOOT); is all I have to say. Okay, okay, the hubris of a Linux zealot aside, the numbers look pretty good. Revenue for the quarter was $28 million, with net income at $3 million. You'd think SCO's blathering would have damaged them, but they're actually up the last couple of quarters after posting some net losses in previous quarters." Kudos to Red Hat. They must be doing something right.

1 of 355 comments (clear)

Min score:

Reason:

Sort:

Full figures here by dipfan · 2003-09-18 20:52 · Score: 5, Informative

Red Hat's SEC filing is here and show, among other interesting facts, that RH has $307m in cash in the bank, which is more than enough to pay for the lawyers to fend off SCO.

In many respects the six monthly figures are even better: a move from a loss of $6.3m in net income to a profit of $4.8m. Sure, a drop in the bucket compared with MS, but you've got to start somewhere.