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Recession? What Recession? Red Hat Continues to Grow

Mar 24, 2010, 21:02 (0 Talkback[s])
(Other stories by Sean Michael Kerner)

"For many in the IT world, the last twelve months are likely ones that they’d rather forget as companies laid off employees and struggled to deal with the ravages of the recession. But for Linux vendor Red Hat (NYSE:RHT), the past year has been a pretty good one financially: Red Hat is set to report its fourth-quarter fiscal 2010 revenues after the market close today and the forecast is positive.

"For the quarter ending Feb. 28, Wall Street analysts project earnings of $0.16 per share, according to Thomson Reuters. During the company's third quarter fiscal 2010 analyst call, Red Hat executives' own earlier guidance provided revenue projections in the $191-$193 million range.

"Red Hat has been showing sales growth every quarter so far during its fiscal year. In its first quarter of fiscal 2010, ended May 31, 2009, Red Hat reported an 11 percent year-over-year increase in revenues."

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