Red Hat, provider of open source solutions, has announced financial results for its fiscal year 2012 second quarter ended August 31, 2011.
Total revenue for the quarter was $281.3 million, an increase of 28% from the year ago quarter. Subscription revenue for the quarter was $238.3 million, up 28% year-over-year.
GAAP operating income for the second quarter was $52.5 million, or 18.7% operating margin. After adjusting for stock compensation and amortization expenses as detailed in the tables below, non-GAAP operating income for the second quarter was $76.4 million, up 41% year-over-year. Non-GAAP operating margin was 27.2%, up 250 basis points from the year ago quarter.
Net income for the quarter was $40 million, or $0.20 per diluted share, compared with $23.7 million, or $0.12 per diluted share, in the year ago quarter.
Operating cash flow was $77.1 million for the second quarter, as compared to $64.3 million in the year ago quarter. At quarter end, the company’s total deferred revenue balance was $813.2 million, an increase of 25% on a year-over-year basis.
Total cash, cash equivalents and investments as of August 31, 2011 was $1.3 billion.