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Red Hat Revenue Up 18% In 3Q
Written by Daniel   
Tuesday, 29 December 2009 18:26

From Information Week

The company continues to grow its revenue, often at the expense of Unix, in a recessionary economy.

Red Hat's revenue in the third quarter ended Nov. 30 was $194.3 million, up 18% from the same quarter a year ago. Subscription revenue, often acquired by customers in three-year increments and an indicator of future financial health, was up 21% at 164.4 million.

In a severe recession, Red Hat is one of a handful of software success stories in the technology industry. Oracle is another; its revenue was up 4% in its recently closed second quarter of 2010.


Red Hat's operating income was $19.8 million, including a previously announced charge of $8.8 million in a litigation settlement, compared to $21 million a year ago, according to generally accepted accounting principles. Net income was $16.4 million or $.08 per share compared with $24.3 million or $.12 per share a year ago. Net income was reduced $.03 per share by the settlement, said Charlie Peters, CFO. The GAAP operating margin was 10.2%; gross margin was 85.8%, up 8% over the year before. 
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