Red Hat (RHT) Tops Q4 EPS by 2c

Red Hat (NYSE: RHT) reported Q4 EPS of $0.43, $0.02 better than the analyst estimate of $0.41. Revenue for the quarter came in at $464 million versus the consensus estimate of $456.8 million.

Total backlog for fiscal year 2015 was in excess of $1.86 billion, up 19% year-over-year. We define total backlog as the value of non-cancellable subscription and service contracts, including total deferred revenue, which is billed, plus the value of customer contracts to be billed in the future not reflected in our financial statements. At the end of the fiscal year, the company’s total deferred revenue balance was $1.48 billion, an increase of 15% on a year-over-year basis and 14% sequentially. The portion of total backlog to be billed in the future not reflected in our financial statements was in excess of $380 million as of February 28, 2015, compared with the ending balance in excess of $270 million reported for fiscal year 2014. The portion of the total backlog to be billed in the next twelve months not reflected in our financial statements was in excess of $230 million as of February 28, 2015, compared with in excess of $190 million for the fiscal year ending February 28, 2014.

Red Hat's Board of Directors also authorized the repurchase of up to $500 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions.

For earnings history and earnings-related data on Red Hat (RHT) click here.

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