Open-source and Linux provider Red Hat Inc. swung back into the black in the first quarter of its 2004 fiscal year, while at the same time significantly reducing its operating loss.

The company posted net income of $1.5 million, or $0.01 a share for the quarter, ended May 31. This compares to a net loss of $273,000, or break-even per share, in the prior quarter, and a net loss of $4.6 million, or $0.03 per share, in the same year-ago quarter.

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