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."