Specifically, Q4 net income dropped from $28.75 million (13 cents per share) in 2006 to $21.5 million (10 cents per share) in 2007. Total revenue for the quarter was $111.1 million, an increase of 41 percent year-over-year and up 5 percent from the prior quarter. Subscription revenue was $95.9 million, up 44 percent year-over-year and 8 percent sequentially.
For the full year, total revenue was $400.6 million, an increase of 44 percent over fiscal 2006 revenue, and subscription revenue was $341.2 million, up 48 percent from the prior year.
Non-GAAP (generally accepted accounting principles) adjusted net income for the quarter was $32.7 million, or 15 cents per diluted share, after adjusting for stock compensation and tax expense. This compares to non-GAAP adjusted net income of $29.6 million, or 14 cents per diluted share, in the prior quarter.
The Thomson financial analyst survey, though, had predicted GAAP earnings of 15 cents a share, on $113 million in revenue. As a result, Red Hats stock dropped slightly both before and after the bell.
For the full year, net income was $59.9 million (29 cents per diluted share), compared with $79.7 million (41 cents) in the prior year. Non-GAAP adjusted net income for the year was $113.6 million (54 cents), compared to $77.9 million (40 cents) the year before.