Recession helps Red Hat boost total annual revenue

At least one company appears to be doing even better in the current economic slowdown than in previous years. Red Hat, one of the most prominent commercial Linux vendors, has reported that the company's total annual revenue is $652 million, which is a 25 percent increase over the previous year.

In fact, Red Hat CEO Jim Whitehurst actually said the recession has contributed to the positive results. In a statement, Whitehurst said, "Our ability to demonstrate real value and deliver cost savings to our customers enabled us to achieve significant new milestones during the quarter. Our value proposition is even more compelling in a challenging economic environment, and we believe that's a key driver to our solid financial results and market share gains."

It will be interesting to see how Red Hat fares for the next couple of years as the recession bottoms out.

For more on this story:
- check out this article at Ars Technica

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