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Red Hat 1Q Loss Less Than Expected
Red Hat (RHAT Quote), the leading Linux software operating-system distributor, reported a smaller-than-expected first-quarter loss Thursday, reinforcing expectations that the company would be profitable by next year.
Red Hat officials said that adjusting for one-time expenses, the company lost $2.5 million, or 2 cents a diluted share, in its first fiscal quarter ended May 31, compared with an adjusted net loss of $3.8 million, or 8 cents a share, in the year-earlier period.
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