Red Hat Reports Fiscal Fourth Quarter and Fiscal Year 2006 Results

Red Hat Reports Fiscal Fourth Quarter and Fiscal Year 2006 Results

ed Hat, Inc. (NASDAQ:RHAT – News), the world’s leading provider of open source solutions to the enterprise, today announced financial results for its fiscal fourth quarter and fiscal year ended February 28, 2006. Total revenue for the quarter was $78.7 million, an increase of 37% from the year ago quarter and 8% from the prior quarter. Subscription revenue was $66.7 million, up 44% year-over-year and 11% sequentially. For the full year, total revenue was $278.3 million, an increase of 42% over fiscal 2005 revenue, and subscription revenue was $230.4 million, up 53% from the prior year.

The company reported operating income of $19.8 million for the quarter and $58.1 million for the year, representing increases of 165% over the fourth quarter of fiscal 2005 and 116% over the full fiscal year 2005. Net income for the quarter was $27.3 million, up 131% year-over-year and 18% sequentially. For the full year, net income rose 75% to $79.7 million over the prior fiscal year. Earnings per diluted share more than doubled to $.13 for the fourth quarter, versus $.06 in the year ago quarter. At year end, the company’s total deferred revenue balance was $223.5 million, an increase of 63% on a year-over-year basis and 12% sequentially.

Read the complete Press Release