Red Hat's Q4 profits spike 43%

Friday, March 25, 2011

US Linux operating systems provider Red Hat (NYSE: RHT) posted US$33.5mn in net profits during its fiscal fourth quarter, ended February 28, representing a 43.1% hike over the US$23.4mn posted in the year-ago quarter, the company said in a statement.

Overall revenues during the same period increased 25% to US$245mn, while subscription revenues rose 24% to US$209mn.

"We believe the strong demand we experienced was largely driven by customers who are modernizing their data centers and preparing their infrastructure for cloud computing," said Jim Whitehurst, president and CEO of Red Hat.

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Yearlong net profits increased 23% to US$107mn, while sales inclined 21% to US$773mn.

BNamericas previously reported that the Brazilian division of Red Hat had notched last fiscal year the largest middleware contract in the history of the entire company.

To see the full financial results, follow this link