Red Hat’s first quarter results were better than first reported, the company disclosed on Monday in a revised filing with the SEC.
Red Hat (Nasdaq: RHAT) said its profit was $10.9 million, or 6 cents a share, rather than the $10.7 million, or 5 cents a share, it reported earlier.
The Linux software developer revisited its financials after an examination of how some subscription revenues were booked.
Total revenues also increased $100,000 to $41.7 million.
Red Hat first reported its quarterly earnings in June and slightly missed analysts’ expectations. The news at the time coupled with the resignation of Chief Financial Officer Kevin Thompson dragged down the stock.
Last week, Red Hat announced it was reviewing its figures and noted that the SEC was looking into the firm’s annual report.
The news triggered a rash of class action lawsuits, and Red Hat said in its SEC filing that it expected the legal battles to be costly and time consuming. For the text of that statement, see today’s Skinny column (www.localtechwire.com/article.cfm?u=8737 )
The stock closed at $14.90 on Monday.
Red Hat: www.redhat.com
