Red Hat has announced financial results for its fiscal fourth quarter and fiscal year ended February 28, 2013.

Total revenue for the quarter was $348 million, an increase of 17% in U.S. dollars from the year ago quarter. Subscription revenue for the quarter was $303 million, up 19% in U.S. dollars year-over-year. For the full fiscal year 2013, total revenue was $1.33 billion, up 17% in U.S. dollars year-over-year, and subscription revenue was $1.15 billion, up 19% in U.S. dollars year-over-year.

Jim Whitehurst (President and CEO, Red Hat): We continued to see momentum with large deals in Q4, closing a record number of deals in excess of $5 million and $10 million. We now provide solutions to over 90% of Fortune 500 companies as well as tens of thousands of smaller companies.

Operating income for the fourth quarter and the full fiscal year 2013 was $50 million and $201 million, respectively. Operating margin was 14.4% in the fourth quarter and 15.1% for the full year.

Net income for the fourth quarter was $43 million, or 22 cents per diluted share, compared with $35 million, or  18 cents per diluted share, for the prior quarter and $36 million, or 18 cents per diluted share, in the year ago quarter.

For the full year, net income was $150 million or 77 cents per diluted share, compared with $147 million or 75 cents per diluted share in the prior year.

Operating cash flow totaled $137 million for the fourth quarter and $465 million for the full year. At the end of the fiscal year, the company’s total deferred revenue balance was $1.09 billion, an increase of 15% on a year-over-year basis and 10% sequentially.

Cash and investments at February 28, 2013 totaled $1.32 billion after repurchasing approximately 687 thousand shares of common stock in the fourth quarter for approximately $36 million. For fiscal year 2013, Red Hat repurchased approximately 2.3 million shares, or approximately $121 million of common stock.

“During fiscal year 2013, Red Hat invested aggressively in new product areas such as storage, cloud computing, management and big data through new internal initiatives and three acquisitions in the second half of the fiscal year,” stated Charlie Peters, executive vice president and CFO of of Red Hat.