Red Hat nearly doubles profit in third quarter

Red Hat nearly doubled its profits compared to its previous third quarter, it said Wednesday.

Red Hat nearly doubled its profit in the third quarter compared to the same period a year earlier, it said on Wednesday.

The Linux vendor reported diluted net income of US$24.5 million for the three-month period to Nov. 30, compared to US$12.4 million for the same quarter in 2004. Diluted net income per share was US$0.12, up from US$0.06 the year earlier.

Revenue came in at US$73.1 million, a 44 percent gain over third-quarter 2004 revenue of US$50.9 million.

The results reflected investments in personnel and infrastructure along with improvements in the company's day-to-day operations, said Charlie Peters, Red Hat's executive vice president and chief financial officer, in a news release.

The company's subscription revenue increased 54 percent year-over-year, coming in at US$60.2 million. Early last month, Red Hat officials said they had signed up 37,000 customers over the last three quarters, many of whom are small- to medium-sized enterprises.

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