Close
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Latest News
    • Servers

    Red Hats Gross Income Grows, Net Disappoints

    By
    Steven J. Vaughan-Nichols
    -
    March 30, 2007
    Share
    Facebook
    Twitter
    Linkedin

      Red Hat Inc. reported its financial results today for its fourth fiscal quarter and full fiscal year, both of which ended Feb. 28. While total revenue was up, the market was disappointed at the report that net income for the quarter fell about 25 percent year-over-year.

      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.

      /zimages/3/28571.gifRead the full story on Linux-Watch.com: Red Hats Gross Income Grows, Net Disappoints

      Steven J. Vaughan-Nichols
      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.
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.
      Get the Free Newsletter!
      Subscribe to Daily Tech Insider for top news, trends & analysis
      This email address is invalid.

      MOST POPULAR ARTICLES

      Latest News

      Zeus Kerravala on Networking: Multicloud, 5G, and...

      James Maguire - December 16, 2022 0
      I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
      Read more
      Applications

      Datadog President Amit Agarwal on Trends in...

      James Maguire - November 11, 2022 0
      I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
      Read more
      Cloud

      IGEL CEO Jed Ayres on Edge and...

      James Maguire - June 14, 2022 0
      I spoke with Jed Ayres, CEO of IGEL, about the endpoint sector, and an open source OS for the cloud; we also spoke about...
      Read more
      IT Management

      Intuit’s Nhung Ho on AI for the...

      James Maguire - May 13, 2022 0
      I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
      Read more
      Applications

      Kyndryl’s Nicolas Sekkaki on Handling AI and...

      James Maguire - November 9, 2022 0
      I spoke with Nicolas Sekkaki, Group Practice Leader for Applications, Data and AI at Kyndryl, about how companies can boost both their AI and...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2022 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×