Menu
Red Hat profit rises on 42 percent revenue hike

Red Hat profit rises on 42 percent revenue hike

Red Hat grew revenue 42 percent to US$118.9 million in fiscal first quarter

The introduction of a new version of its Linux distribution and new JBoss software helped Red Hat increase profit to US$16.2 million, or US$0.08 a share, on revenue of US$118.9 million, in its fiscal first quarter ended May 31, the company reported Wednesday.

The report compares favorably to the year-ago quarter, in which Red Hat earned a profit of US$13.75 million, or US$0.07 a diluted share on revenue of US$84 million.

The company released Red Hat Enterprise Linux 5 in March, and also introduced new developer class and enterprise class editions of JBoss Java-based software. Red Hat acquired JBoss 2006. Red Hat also rolled out its service-oriented architecture (SOA) strategy in the quarter.

Red Hat said that after excluding one-time charges and adjusting for stock compensation and tax expense, its adjusted net income for the quarter was US$33.7 million, or US$0.16 per diluted share

Red Hat distributes open source Linux software and charges companies a subscription to provide updates and other technical support. The company said US$103 million of the total US$118.9 million in quarterly revenue was subscription revenue.

Charlie Peters, chief financial officer of Red Hat, said the company forecasts revenue of between US$124 million and US$126 million in the current quarter, which ends Aug. 31. The company expects to earn US$0.17 per share in the quarter, excluding one-time expenses and other charges, he said.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Events

Why experience is the new battleground for partners

Join us for an exclusive webinar, in association with Hewlett Packard Enterprise and Technology Services Industry Association (TSIA) and learn about the latest industry insights and how technology services continue to evolve to deliver differentiated value, and how partners can be successful in 2021 and beyond.

Featured

Slideshows

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

The leading female front runners of the New Zealand ICT industry joined together for the annual Reseller News Women in ICT Awards event at the Hilton in Auckland, during which hundreds of guests celebrated 13 outstanding individuals who won awards, chosen from more than 50 finalists representing over 30 organisations.

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards
Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Show Comments