Red Hat announced financial results for its fiscal year 2011 third quarter ended Nov. 30, reporting a rise in operating income of 92 percent year over year.
Total revenue for the quarter was $235.6 million, an increase of 21 percent from the year ago quarter. Subscription revenue for the quarter was $198.8 million, up 21 percent year-over-year. Operating income for the third quarter was $38.0 million. Operating income in the year ago quarter was $19.8 million after a charge of $8.8 million for a litigation settlement.
In November, we launched the latest version of our flagship operating system, Red Hat Enterprise Linux 6, giving customers a great platform for next generation architectures such as virtualization and cloud computing, said Jim Whitehurst, president and chief executive officer of Red Hat, in a statement.
After adjusting for stock compensation, amortization expenses and the charge for a litigation settlement in the prior year as detailed in the tables below, operating income for the third quarter was $58.0 million, up 26 percent year-over-year.
Net income for the quarter was $26.0 million, or $0.13 per share, compared with $16.4 million, or $0.08 per share, a year ago. Net income for the quarter was $39.1 million, or $0.20 per share, versus $33.5 million, or $0.17 per share in the year ago quarter, after adjusting for stock compensation, amortization expenses and the charge for a litigation settlement in the prior year.
Operating cash flow totaled $70.8 million, as compared to $54.1 million in the year ago quarter. At quarter end, the company's total deferred revenue balance was $685.2 million, an increase of 11 percent on a year-over-year basis. Total cash, cash equivalents and investments as of Nov. 30 was $1.1 billion.