Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Red Hat (RHT) is out after the bell with its earning report and from first glance things look very solid. Estimates were for $291M in revenue and 27 cents in EPS; the company came in at $297M on the top line and 29 cents on the bottom. No guidance in the report. The stock is reacting in positive fashion, up near $54 in after hours after a close in the lower $51s. Huge volume the past 2 days as people try to game the earnings report I suppose.
- Red Hat, Inc., the world’s leading provider of open source solutions, today announced financial results for its fiscal fourth quarter and fiscal year ended February 29, 2012. Total revenue for the quarter was $297.0 million, an increase of 21% from the year ago quarter. Subscription revenue for the quarter was $255.2 million, up 22% year-over-year. For the full fiscal year 2012, total revenue was $1.13 billion, an increase of 25% over the prior year, and subscription revenue was $965.6 million, up 25% year-over-year.
- GAAP net income for the fourth quarter was $36.0 million, or $0.18 per diluted share, compared with $38.2 million, or $0.19 per diluted share, for the prior quarter and $33.5 million, or $0.17 per diluted share, in the year ago quarter. Non-GAAP adjusted net income for the fourth quarter was $57.2 million, or $0.29 per diluted share, after adjusting for stock compensation and amortization expenses . This compares to non-GAAP adjusted net income of $55.7 million, or $0.28 per diluted share in the prior quarter and $51.4 million, or $0.26 per diluted share in the year ago quarter.
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