With new cloud software offerings set for release in July, Red Hat (NYSE: RHT) is making clear its intention to satisfy enterprise customers’ appetite for cloud solutions.

Red Hat CEO Jim Whitehurst told analysts that enterprise IT departments are pressed to reduce costs while also keeping up with rapidly changing cloud technology and Red Hat sees its Red Hat OpenStack and Red Hat Cloud Infrastructure helping IT staffs do that. But don’t expect to see those results reach Red Hat’s bottom line any time soon.

(Note: Technology Business Research’s analysis of Red Hat’s report concludes more growth is ahead.)

Even as Whitehurst expressed enthusiasm for the coming software offerings, he tempered expectations for the near term. Even the early adopters won’t start writing big checks for the software until they are further along, Whitehurst said. That could be a year or more.

“It does have an impact for us but I wouldn’t expect us to see material OpenStack revenues or even bookings within the next 12 months,” he said.

But Red Hat did show financial results to kick off its 2014 fiscal year. The company generated $363 million in total fiscal first quarter sales, a 15 percent increase compared to the same period a year ago. Analysts polled by Thomson Reuters on average expected the company would generate $359.8 million in total first quarter revenue.

CFO Charlie Peters attributed the revenue growth primarily to subscription revenue. Subscription revenue accounted for $316 million of the company’s revenue in the quarter, up 16 percent compared to the first quarter of fiscal 2013.

Under generally accepted accounting principles, or GAAP, net income for the quarter was $40 million or 21 cents per diluted share. A year ago, Red Hat reported $37 million in net income or 19 cents per diluted share. Non-GAAP net income for the quarter was $62 million, or 32 cents per diluted share. A year ago, the company reported $58 million, or 30 cents per diluted share. That beat the average analyst earnings estimate of 32 cents per diluted share.

The new cloud software offerings will be subscription-based, like Red Hat’s other products. Pricing details will be disclosed when the products become available in July. Whitehurst said that Red Hat would further discuss the company’s growth opportunities next week at the company’s analyst conference.

After closing Wednesday at $46.22, Red Hat shares were trading at up to $47.80 per share in after hours trading.