
New York disaster clouds forecasts...
By Pia Heikkila
Published: 19 September 2001 11:42 BST
The Linux software maker Red Hat said it expects to break even by the fourth quarter this year.
It blamed the current economic downturn for its poor performance and said it won't be able to provide revenue guidance because of the New York catastrophe.
It has reported losses in the second quarter and revenues were down 15 per cent.
Net losses grew to $55.3m or $0.33 per share, compared with a loss of $20m, or $0.12 per share in the same quarter a year ago.
This shows company is making large profits and growing significantly despite global economic downturn. Annual revenues surpass billion. Bonuses are ...
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