Shares of Red Hat Inc. (NYSE: RHT) dipped in trading on Friday as the company posted a profit loss of 25 percent for its fiscal fourth quarter.
Shares fell 74 cents, or 3.2 percent to $22.40 in afternoon tradin on the New York Stock Exchange.
The Raleigh, N.C.-based firm, which distributes and services Linux based servers, said that net income for the quarter which ended Feb. 28 fell to $21.47 million, or 10 cents a share, from $28.75 million, or 13 cents a share during the period a year earlier.
Total revenue for the quarter was $111.1 million, an increase of 41 percent from the same quarter last year and 5 percent from the prior quarter.
Red Hat said that excluding certain items, earnings were 15 cents a share. Analyst surveyed by Thomson Financial had expected earnings of 15 cents a share, on $113 million in revenue.