Losses increase, share price decreases...
By Pia Heikkila
Published: 20 March 2002 11:00 GMT
Linux vendor Red Hat has reported losses blamed on falling sales
The company said net losses increased to $41.9 m for its fourth quarter, which ended in February, compared to losses of $24.2 m during the same period last year. The company said its poor performance was a result of a decrease in software sales.
Red Hat was the subject of takeover rumours earlier this month, when US sources claimed it was in talks with the entertainment giant AOL Time Warner. Both parties denied the rumours.
Red Hat shares were down 12 cents at the time of Nasdaq closing - trading at $6.80 per share.
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