Red Hat forecasts strong growth after dismal year
Hit by chip slump (yes, that's what they said)
In the fourth quarter to February 28, the net loss was $41.9m, up from a loss of $24.2m on revenue of $18.6m, down from $21.9m. For the year, the loss was $139.8m, up from a loss of $86.7m on revenue of $78.9m, down from $80.8m. This year's figure includes a $10.3m loss on disposal of discontinued operations.
Matthew Szulik, CEO of the Raleigh, North Carolina-based company, said the company has been hit by the semiconductor slump, which has cut back on the number of new devices and chips that run Linux. The company said its fourth quarter had seen 10 major enterprise customers including AOL, Morgan Stanley, Amazon, Cisco, Dell, Siemens and BP, making large-scale deployments of its open source technologies.
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