Red Hat posts impressive profit figures

Red Hat posts impressive profit figures

The company, which is synonymous in the corporate world with the Linux Operating System, is performing well. Red Hat has come out with their most recent quarter results and the company stated that its fourth-quarter profit more than doubled on a 37 percent surge in revenue.

Red Hat’s income for the period was around $27.3 million, or 13 cents per share. This is a massive improvement from the figures of $11.8 million, or 6 cents per share, in the year-ago period.

The revenues for the company were $78.7 million, which are again an improvement from figures of $57.5 million last year. This performance is better than what the market had expected from the company.

Figures for the full year revenues were also better with income at $79.7 million up from $45.4 million last year. Revenues were at $278.3 million, up 42 percent from the 2005 fiscal year.