Red Hat turns in profit on increased revenues -

Software outfit Red Hat said it turned in revenues of $195.9 million for its fourth financial quarter, and made a prfoit of $28 million.

That's an increase of 18 percent compared to its revenues in the same quarter a year ago.

Its total revenues for the year amounted to $748 million, an increase of 15 percent year on year, and that makes it optimistic it will reach its milestone goal of a billion dollars, said CEO Jim Whitehurst.

Chief financial officer Charlie Peters said Red Hat had had consistently strong cash flow for some time, but the fourth quarter was exceptional.