Red Hat reports Financial Results
Red Hat has announced financial results for its fiscal fourth quarter and fiscal year ended February 29, 2012.
Total revenue for the quarter was US$297.0 million, an increase of 21% from the year ago quarter. Subscription revenue for the quarter was US$255.2 million, up 22% year-over-year. For the full fiscal year 2012, total revenue was US$1.13 billion, an increase of 25% over the prior year, and subscription revenue was US$965.6 million, up 25% year-over-year.
"The strength of our fourth quarter was a fitting conclusion to a remarkably strong year for our business. Our investments to expand our geographic sales footprint and add sales people with targeted industry and product knowledge has accelerated our growth. Red Hat is the first pure-play, open-source company, and one of only a select few software companies, to have achieved the billion dollar revenue milestone. The open-source technologies which we provide are being selected by more customers every day as they re-architect the infrastructure of their data centres for greater efficiency, agility and cloud enablement," said Jim Whitehurst, President & Chief Executive Officer, Red Hat.
GAAP operating income for the fourth quarter and the full fiscal year 2012 was US$48.5 million and US$199.9 million, respectively. GAAP operating margin was 16.3% in the fourth quarter and 17.6% for the full year. After adjusting for stock compensation and amortization expenses, as detailed in the tables below, non-GAAP operating income for the quarter was US$77.2 million, or a 26.0% operating margin, and full year non-GAAP operating income was US$298.9 million. Full year non-GAAP operating margin was 26.4%, representing an increase of 160 basis points from the prior year.
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