Red Hat Tips Up On Increased Earnings
By David Utter
Expert Author
Article Date: 2005-07-01
Total revenue for the Linux company's first quarter jumped by 46 percent in year to year comparison.
Red Hat brought in total revenue of $60.8 million USD, with enterprise subscription revenue delivering $48.7 million of that total.
Raleigh-based Red Hat brought in net income of $12.4 million, or 7 cents per share, for the quarter that ended May 31. That's a 45 percent increase over the same period last year, where Red Hat made $10.9 million for a result of 6 cents per share.
First Call had Red Hat making total revenue of $61 million and a profit of 5 cents a share, according to its survey of analysts. It predicts second quarter profits of 7 cents per share on 466 million in revenue.
Red Hat CFO Charlie Peters expects that figure to be 6 or 7 cents a share on $64 to $65 million in revenue. "Our results for the first quarter represent a solid start to the fiscal year," said Mr. Peters. "We continue to experience strong customer demand."
The company recently accepted awards in London for Operating System and for Server Product of the Year at the Techworld Network Awards 2005. "It is very encouraging and exciting to receive such positive recognition from some of the most respected figures in the UK technology industry," said Paul Salazar, Director of Marketing EMEA at Red Hat.
About the Author:
David Utter is a staff writer for WebProNews covering technology and business. Email him here.
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