Red Hat shows strong first quarter
Hit with patent claim
Red Hat posted good results for the first quarter of 2007, ended 31 May, with revenues up 38 per cent to $84m. Subscriptions made up $71.5m of this, with training and services providing the other $12.5m
But Wall Street wasn't impressed and pushed Red Hat shares on Nasdaq down five per cent. GAAP net income for the period was $13.8m.
Total cash and investments on 31 May was $1.1bn.
More from Red Hat here.
In other news, law blog Patently-O is reporting that Red Hat is being sued for patent infringement by FireStar. The lawsuit relates to software from JBoss, which Red Hat bought on 2 June. More from Patently-O here. ®
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