Red Hat Posts Impressive 2008 Earnings

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."

Read the full story on Linux-Watch.com.