Red Hat has reported rising licensing revenue as it benefits
from increased customer interest in open source sparked by the
recession.
There has been an argument that in a downturn users that have
been happy to stick with an established IT infrastructure are more
prepared to shop around, and Jim Whitehurst, president and CEO of
Red Hat, backed up that view.
"Our value proposition is even more compelling in a challenging
economic environment, and we believe that is a key driver to our
solid financial results and market share gains," he said.
Revenue for the supplier's fourth quarter increased by 18% to
$166.2m and total year revenue hit $652.6m from $541.2m in fiscal
year 2008.
GAAP net income for the quarter dropped to $16m from $24.3m in
the same period last year. Net income for the year increased to
$78.7m from $76.7m.
Subscription revenue increased for the quarter by 14% to
$139.4m.
A version of this story originally appeared on the
Microscope website.
