Software
Red Hat Misses Top-Line Estimates
TSC Staff
03/29/07 - 05:02 PM EDT
Red Hat(RHT Quote) met analysts' fourth-quarter earnings expectations but revenue came in slightly below estimates.
The open-source software services provider said Wednesday that net income for the quarter ended Feb. 28 fell to $20.5 million or 10 cents a share, from $27.3 million, or 13 cents a share, a year earlier.
Excluding stock compensation and tax expense, Red Hat earned $32.7 million, or 15 cents a share, meeting the average analyst estimate as polled by Thomson Financial.
Revenue rose to $111.1 million from $78.3 million; analysts had expected revenue of $112.5 million.
Shares of Red Hat were recently off 4% to $22.22.