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THE Red Hat, announced its financial results for the fourth quarter of fiscal year 2019, ending February 28, 2018. Total revenue for the quarter was $ 879 million, up 14 percent in dollars compared to the same period last year, or 17% in constant currency. Subscription revenue for the quarter was $ 774 million, up 13 percent in dollars compared to the same period last year, or 16 percent measured in constant currency. Subscription revenue in the quarter was 88% of total revenue.

Enterprises continue to move to hybrid cloud environments, which is contributing to the strong growth in Red Hat cloud-driven technologies.said Jim Whitehurst, president and CEO of Red Hat.

The statement is in line with the current scenario in business. According to a Gartner survey, global public services are expected to grow by over 17% in 2019 and represent a $ 206.2 billion market. Across the portfolio, the total number of active subscribers exceeding $ 5 million increased by 33% over the previous year in fiscal year 2019.

Another key factor in this performance is the growing number of Ansible and OpenShift customers, which surpassed 1,300 and 1,000, respectively, at the end of fiscal year 2019.

In fiscal year 2019 we continued to strengthen our strategic business relationships, which was evident due to continued growth in sizeable commitments. We saw a 17% year-on-year increase in the number of deals over $ 1 million, despite the smaller base of major renewals in fiscal year 2019. These deals include the broad adoption of Red Hat's technology portfolio, with up to 22% in cross sales compared to the previous yearsaid Eric Shander, executive vice president and chief financial officer.

In addition, our total order backlog was $ 4.1 billion, a 22% increase over

annual comparison. This is the third year in a row that the total order backlog

increased at a rate of more than 20% compared to the previous year, which further reflects the

moment of progress of our business, comments.

NET INCOME

GAAP net income for the quarter was $ 139 million, or diluted earnings per share (EPS) of $ 0.75, compared to GAAP net income of $ 12 million, or diluted earnings per share of $ $ 0.07 in the same quarter last year. The prior-year quarter recorded a non-recurring tax charge of $ 123 million related to the Tax and Employment Cuts Act, which entered into force in December 2017. After adjusting non-cash compensation expenses based on equity, amortization of intangible assets, transaction costs related to business combinations and non-monetary interest expense related to debt relief, GAAP net income for the quarter was $ 214 million, or diluted earnings of $ 1.16, from $ 168 million, or diluted earnings of $ 0.92 in the same quarter last year. The diluted weighted average of non-GAAP outstanding shares excludes the dilution that is believed to be offset by our convertible securities hedge transactions.

CASH FLOW

Operating cash flow was $ 397 million in the fourth quarter, up 10 percent year-over-year. Operating cash flow includes the impact of our recent adoption of ASU 2016-15: Cash Flow Statement (Topic 230): Classification of Certain Cash Revenue and Payments, which requires the portion of convertible securities payments during the quarter. attributable to the debt discount that is classified as operating cash flow. Non-GAAP operating cash flow provided by operations, which excludes this impact, was $ 424 million, a 17% increase over the same period last year, compared to non-GAAP operating cash flow. Total cash, cash equivalents and investments as of February 28, 2019 was $ 2.4 billion after repurchase of approximately $ 413 million, or about 0.9 million ordinary shares in fiscal year 2019. The remaining balance of the The current share buyback authorization on February 28, 2019 was approximately $ 737.2 million.

DEFERRED REVENUE

At the end of the fourth quarter, the company's total deferred revenue balance was $ 4.1 billion, up 22% year-on-year. The negative impact on total deferred revenue due to changes in exchange rates was $ 77 million annually. On a currency basis, total deferred revenue would have increased by 18% compared to the previous year.

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