Red Hat News
22 Mar 2016
#50963
Red Hat Reports Fourth Quarter and Fiscal Year 2016 Results
Red Hat, March 22th, 2016

Red Hat, Inc., the world's leading provider of open source solutions, today announced financial results for its fiscal fourth quarter and fiscal year ended February 29, 2016.

'The fourth quarter was a strong close to the year as our results exceeded our guidance. We maintained a high level of execution throughout the fiscal year which contributed to greater than 20% constant currency revenue growth in each quarter. This performance also drove a record backlog of $2.13 billion in U.S. dollars, up 15% year-over-year, and provides us meaningful visibility into future revenue,' stated Frank Calderoni, Executive Vice President, Operations and Chief Financial Officer of Red Hat.

'Our business momentum also drove record annual cash flow of $716 million, up 15% and representing the 5th straight year of operating cash flow margin of approximately 35%.'Enterprises increasingly adopting hybrid cloud infrastructures and open source technologies drove our strong results. The fourth quarter marked our 56th consecutive quarter of revenue growth, contributing to Red Hat's first fiscal year crossing $2 billion in total revenue,' stated Jim Whitehurst, President and Chief Executive Officer of Red Hat.

'Customers are demanding technologies that modernize the development, deployment and life-cycle management of applications across hybrid cloud environments. Many are relying on Red Hat to provide both the infrastructure and the application development platforms to run their enterprise applications consistently and reliably across physical, virtual, private cloud and public cloud environments.'
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