Markets & Finance

WR Hambrecht Flattens Red Hat Opinion


WR Hambrecht downgraded Red Hat Inc. (RHAT) to neutral from buy.

Analyst Prakesh Patel says while net income of breakeven was in line with his estimate, revenue of $25.6 million came in below his $27 million estimate. Patel says on a conference call, CFO Kevin Thompson could not reiterate previous guidance of $0.10 fiscal 2002 (Feb.) EPS, and indicated that a near-term lack of visibility is causing the company to offer no guidance into future results. Patel believes this signals a significant uncertainty in Red Hat's ability to either capture revenue

growth or deliver continued profitablity.

He cut the $0.08 fiscal 2002 EPS estimate to breakeven, and cut the $0.16 fiscal 2003 to $0.01.


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus