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Red Hat Reports Second Quarter Fiscal Year 2008 Results

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Linux

Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced financial results for its second fiscal quarter ended August 31, 2007. Red Hat's current fiscal year will end February 29, 2008.

Total revenue for the quarter was $127.3 million, an increase of 28% from the year ago quarter and 7% from the prior quarter. Subscription revenue was $109.2 million, up 29% year-over-year and 6% sequentially.

Other highlights of the quarter included the following:

- Red Hat continued to build its industry leading ecosystem by surpassing the milestone of more than 3,000 applications certified on Red Hat Enterprise Linux.

- Following three consecutive years of Red Hat being ranked first in value for enterprise software in the CIO Insight survey, Red Hat Japan was ranked the number one technology vendor in Japan that customers intend to conduct business with in the future according to the Nikkei Market Access survey.

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Also:

Red Hat today announced the promotion of Mark E. Cook to Vice President, Finance and Controller and the appointment of Paul Argiry as Vice President and Treasurer. Both will report to Executive Vice President and Chief Financial Officer, Charlie Peters.

Red Hat Appoints Two New Financial Executives

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