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The provider of Linux support services also announced that it is responding to an SEC inquiry regarding its annual report.
Red Hat Inc., which provides support services for Linux software, announced that it will restate its financials for the prior three fiscal years and the first fiscal quarter of 2004 to correct the way it recognizes revenues for certain subscription agreements. The restatement is expected to result in "significant percentage differences" in quarterly operating profit and net income, Red Hat warned.
The announcement — which came about a month after chief financial officer Kevin Thompson's June 16...