Red Hat: Revenue Up, Net Income Down
Linux enterprise Red Hat reports a revenue of $166 million in its fiscal year ending February 28, 2009. The fourth quarter revenue was $16 million.
Red Hat's revenue grew by 18% in the fiscal year 2009 fourth quarter when compared to that of a year ago, although it lost $6 million in net income to make it $16 million for the quarter. Part of the loss comes from about $4 million in special one-time gains in net income reported in the third quarter as well as a year ago, but which were not included in the current fourth quarter.
Subscription revenue for its Linux products showed a sharp increase of 14% over last year to $139 million for the quarter. The end of fiscal year results show a total revenue of almost $563 million and net income of almost $79 million. This means an annual revenue growth of 25%. However, net income remained about the same, with last year’s being $77 million.
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