Showing posts with label results. Show all posts
Showing posts with label results. Show all posts

22 December 2006

Red Letter Day for Red Hat

Time to throw those hats in the air, methinks:

Red Hat, Inc. the world's leading provider of open source solutions, today announced financial results for its fiscal year 2007 third quarter.

Total revenue for the quarter was $105.8 million, an increase of 45% from the year-ago quarter and 6% from the prior quarter. Subscription revenue was $88.9 million, up 48% year-over-year and 5% sequentially.

Net income for the quarter was $14.6 million or $0.07 per diluted share compared with $11.0 million or $0.05 per diluted share for the prior quarter. Non-GAAP adjusted net income for the quarter was $29.6 million, or $0.14 per diluted share, after adjusting for stock compensation and tax expense as detailed in the tables below. This compares to non-GAAP adjusted net income of $22.7 million, or $0.11 per diluted share in the third quarter of last fiscal year.

These figures are important for a number of reasons (and no, I don't own any shares - never have, never will.) It shows that Red Hat has been unaffected by all of Larry's Machiavellian machinations; it also indicates the rude health of open source's bellwether. That's good not just for Red Hat, but for the whole free software ecosystem too.