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Red Hat's gross income grows, net disappoints (Linux-Watch)
Linux-Watch looks at Red
Hat's financial results for the fiscal year. "Red Hat Inc. reported
its financial results today for its fourth fiscal quarter and full fiscal
year, both of which ended Feb. 28. While total revenue was up, the market
was disappointed at the report that net income for the quarter fell about
25 percent year-over-year. Specifically, Q4 net income dropped from $28.75
million (13 cents per share) in 2006 to $21.5 million (10 cents per share)
in 2007. Total revenue for the quarter was $111.1 million, an increase of
41 percent year-over-year and up 5 percent from the prior
quarter. Subscription revenue was $95.9 million, up 44 percent
year-over-year and 8 percent sequentially."
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