Open Source software supplierRed Hat has reported strong results despite the
recession.
Over the three months to the end of August, Red Hat made net
profits of $28.9m (£17.8m), up 36.9% year-on-year, while sales also
ticked up a healthy 12%, hitting $183.6m.
The supplier revealed it had also made a move to buy back $47m
shares of common stock.
President and CEO Jim Whitehurst said he had seen no let-up in
sales of high-value solutions to enterprise customers, contributing
better than expected revenues during the second quarter.
"We continue to be optimistic about Red Hat's future and believe
the company is well positioned when the economic and IT spending
environment improves," he added.
A version of this story originally appeared on
MicroScope.
