Red Hat Posts Impressive 2008 Earnings

By Steven J. Vaughan-Nichols  |  Posted 2008-03-28 Print this article Print

Red Hat is proving you can make money from open source and Linux. 

Anyone under the delusion that you can't make money from open source and Linux should have been on Red Hat's 2008 fiscal year earnings call on March 27.

If they had been, they would have heard Red Hat executives report that the Linux giant posted net income of $76.7 million, or $0.36 per diluted share, for the year, compared with $59.9 million, or $.29 per diluted share, in the prior year.

According to the Raleigh, N.C., company's financial statement, Red Hat's non-GAAP (Generally Accepted Accounting Principles) "adjusted net income for the year was $152.9 million, or $0.72 per diluted share, compared to $115.9 million and $0.56 per diluted share the year before."

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I'm editor-at-large for Ziff Davis Enterprise. That's a fancy title that means I write about whatever topic strikes my fancy or needs written about across the Ziff Davis Enterprise family of publications. You'll find most of my stories in Linux-Watch, DesktopLinux and eWEEK. Prior to becoming a technology journalist, I worked at NASA and the Department of Defense on numerous major technological projects.

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