Red Hat's quarterly results show continued growth

Red Hat has announced the figures for the third quarter of its fiscal year 2012, the quarter that ended on 30 November. During that period the company generated a turnover of $290 million (£185 million), an increase of 23 per cent over the same period last year. Of this, $246.5 million (£157 million) came from software subscriptions, the rest from training and services. The GAAP operating income for the quarter was $54 million (£34.4 million), an increase of 41 per cent over the year; net income increased by 46.9 per cent, to $38.2 million (£24.3 million).

All three quarters reported this year showed a sales increase over the previous year of 26-35 per cent. In a press release, Charlie Peters, Chief Financial Officer of Red Hat, was quoted as saying that Red Hat has "continued to deliver consistent performance across our business which resulted in strong growth in our key financial metrics". In the Spring, Red Hat CEO Jim Whitehurst, explained that Red Hat was, during this fiscal year, on its way to becoming the first pure "open source company to achieve a billion dollars in revenues". During these first three quarters, total revenues have amounted to $836 million.

(ehe)