Red Hat revenue up, profit down

March 30th, 2007

“Revenue continued its steady increase for Linux seller Red Hat’s most recent quarter, but net income dropped 25 percent. For the final quarter of its fiscal 2007, which ended February 28, Red Hat reported revenue growth of 41 percent to $111.1 million. But the company’s net income declined to $20.5 million, or 10 cents per share, from $27.3 million, or 13 cents per share, in the year-earlier quarter. Red Hat’s net income was pushed down by operating expenses that increased from $45.6 million a year earlier to $77.1 million. Part of those expenses stemmed from the company’s acquisition last June of JBoss, a seller of open-source Java server software…” (Read full article here)

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