Aomori Group - Red Hat Wins on Earnings.

Online, May 22, 2013 (Newswire.com) - Aomori Group are believed to have revealed in a meeting for investors that Red Hat Inc.'s share price fell after its quarterly results fell shy of analysts' expectations.

The Raleigh, North Carolina firm, the world's largest retailer of the Linux operating system, saw its share price fall after a fiscal fourth quarter that failed to meet the expectations after consumers delayed purchases due to concerns about economic growth. The share price fell 1.2 percent in New York trading. Red Hat has declined by 5.6 percent so far this year.

Revenues for the quarter, which ended on in the middle of the first quarter, were $347.9 million, coming in below the average of $350.2 million. Profits for the quarter were up 19 percent, from $36 million for the same quarter last year, to $43 million now.

Earnings per share, excluding one off items, came in at 36 cents, above the expected 32 cents per share. Revenue and profit forecasts for the current quarter also failed to meet market expectations.

Aomori Group reportedly highlighted that Red Hat's open source Linux software is available free of charge, but the company earns revenues through charging for support, maintenance, training and ancillary services. The net cost to an organization can be significantly cheaper than that of rivals such as Microsoft or Oracle.

Aomori Group apparently noted that the worsening European recession and the increases in taxes in the United States have led to businesses delaying their decision to upgrade their older UNIX based systems to Red Hat's enterprise Linux software.