Enterprise Linux Log

Sep 25 2007   3:24PM GMT

Red Hat reports second quarter results, promotions



Posted by: ITKE
Tags:
Red Hat

Red Hat, Inc. today announced financial results for its second fiscal quarter ended August 31, 2007, and the results are again pretty solid.

According to a release that’s still pretty hot after being cut and pasted from my email Inbox, total Red Hat revenue for the quarter was $127.3 million, an increase of 28% from the year ago quarter and 7% from the prior quarter. Subscription revenue, where Red Hat makes its bread and butter, was “$109.2 million, up 29% year-over-year and 6% sequentially,” the release stated.

On the income side of the aisle (take a deep breath before reading this one aloud), net income for the quarter was $18.2 million, or $0.09 per diluted share, compared with $16.2 million, or $0.08 per diluted share, for the prior quarter and $11.0 million, or $0.05 per diluted share, in the year ago quarter. Non-GAAP adjusted net income for the quarter was $36.9 million, or $0.17 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 $33.7 million, or $0.16 per diluted share, in the prior quarter and $24.5 million, or $0.12 per diluted share, in the year ago period.

Other highlights of the quarter included the following:

- Red Hat surpassed the milestone of more than 3,000 applications certified on Red Hat Enterprise Linux.
- Following three consecutive years of Red Hat being ranked first in value for enterprise software in the CIO Insight survey, Red Hat Japan was ranked the number one technology vendor in Japan that customers intend to conduct business with in the future according to the Nikkei Market Access survey.
- Red Hat released the beta version of the Red Hat Developer Studio, an integrated Eclipse-based set of open source development tools and runtime environment.
- Red Hat released JBoss Enterprise Application Platform 4.2, an enterprise-ready platform on which to migrate legacy applications to an open source architecture.

Red Hat also appointed two new financial executives today: Mark Cook was promoted to Vice President, Finance and Controller; and Paul Argiry joined Red Hat as Vice President and Treasurer.

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