Red Hat has reported a profit of $14m for its 2004 financial year. Last year the company recorded a $6.6m loss.
For year, which ended 29 February, the company reported revenues of $126.1m, an increase of 39% as compared to revenues of $90.9m the previous year.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
Red Hat also reported more than 160,000 cumulative sales of Red Hat Enterprise Linux technologies.
The company announced 87,000 new subscriptions for the fourth quarter, $32m in cash flow from operations, and a net income of $5.m compared with $4.1m the previous quarter. Results were merely break-even for the same period the previous year.
Red Hat ended the year with a cash balance of $941m - an increase of $649m.
Renewal rates for sales of Red Hat Enterprise Linux remained strong at approximately 90%. Gross margins increased to record levels, with blended gross margins at 76% and gross margins of Enterprise subscription technologies at 91%.
Operating profit, before stock-based compensation, increased to $4.6m, or 12% of total revenue.
Written by LinuxWorld staff