Red Hat restates earnings

Posted by dave on Jul 13, 2004 11:15 AM EDT
CNET News.com; By Dawn Kawamoto
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Red Hat announced Tuesday it was restating revenue and earnings going back to 2002, as the company changes the way in which it accounts for subscription revenue. The Linux company, which recently reported the resignation of its chief financial officer, said it made its decision to change its revenue recognition after a discussion last month with its independent auditors, PricewaterhouseCoopers.

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