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RHT
Founded
in 1993, Red Hat is the premier Linux and open source provider. The most
recognized Linux brand in the world. We serve global enterprises through
technology and services made possible by the open source model. Solutions
include Red Hat Enterprise Linux operating platforms, sold through a subscription
model, and a broad range of services: consulting, 24x7 support, Red Hat
Enterprise Network. Red Hat's global training program operates in more
than 60 locations worldwide and features RHCE, the global standard Linux
certification
http://www.redhat.com/
Red
Hat Reports Second Quarter Results
-- Revenue of $164.4 Million, up 29% Year-over-Year
-- Deferred Revenue of $496.9 Million, up 32% Year-over-Year
RALEIGH,
N.C.--(BUSINESS WIRE)--Sept. 24, 2008--Red Hat, Inc. (NYSE: RHT), the world's
leading provider of open source solutions, today annonnced financial results
for its fiscal year 2009 second quarter ended August 31, 2008.
"Our
focused execution has delivered another quarter of solid growth and financial
results," stated Jim Whitehurst, President and Chief Executive Officer
of Red Hat. "Also in Q2, we continued to execute on our virtualization
strategy with our award winning RHEL platform as the solid, certified foundation.
Our goal is for Red Hat to deliver a comprehensive virtualization solution
from server to desktop which will enable our customers to deploy any application,
anywhere, anytime."
Total
revenue for the quarter was $164.4 million, an increase of 29% from the
year ago quarter and 5% from the prior quarter. Subscription revenue for
the quarter was $135.7 million, up 24% year-over-year and 4% sequentially.
Net
income for the quarter was $21.1 million, or $0.10 per diluted share, compared
with $18.2 million, or $0.09 per diluted share, in the year ago quarter.
Non-GAAP adjusted net income for the quarter was $43.2 million, or $0.20
per diluted share, after adjusting for stock compensation and tax expense
as detailed in the tables below. This compares to non-GAAP adjusted net
income of $36.9 million, or $0.17 per diluted share in the year ago quarter.
Operating
cash flow totaled $54.3 million, compared to $49.2 million from the year
ago quarter and $63.4 million from the prior quarter. At quarter end, the
company's total deferred revenue balance was $496.9 million, an increase
of 32% on a year-over-year basis and 1% sequentially. Total cash, cash
equivalents and investments as of August 31, 2008 were $1.4 billion.
Other
highlights include the following:
--
JBoss Enterprise Application Platform is now available along with Red Hat
Enterprise Linux on the Amazon EC2 Cloud.
--
Red Hat Enterprise Linux was named the 2008 Product of the Year by Channel
Insider, in the Server Operating Systems category.
--
Red Hat's annual customer and user event, the Red Hat Summit, was held
in Boston this year to record attendance.
--
In early September, Red Hat announced the acquisition of Qumranet, Inc.
which is expected to accelerate the time to market to deliver an expanded
virtualization solution portfolio to the rapidly growing virtualization
market. This acquisition increases Red Hat's investment in and stewardship
of core open source virtualization technology including KVM, the only hypervisor
embedded in the Linux Kernel. The acquisition also establishes Red Hat
in the nascent Virtual Desktop Infrastructure (VDI) market.
"Our
performance this quarter demonstrated strong demand for our products and
services, good execution, and the consistency of results afforded by our
subscription business model," stated Charlie Peters, Executive Vice President
and Chief Financial Officer of Red Hat. "Key factors to our growth include
the value message, the cost efficiencies of open source solutions and our
world-class customer service."
Additional
information on Red Hat's reported results, including a reconciliation of
the non-GAAP adjusted results, are included in the financial tables below.
A live webcast of Red Hat's results will begin at 5:00 pm ET today and
can be accessed by the general public at Red Hat's investor relations website
at http://investors.redhat.com. A replay of the webcast will be available
shortly after the live event will have ended.
Red
Hat Reports Third Quarter Fiscal Year 2008 Results
--
Revenue of $135.4 million, up 28% year-over-year -- Net Income of $20.3
million, up 39% year-over-year -- Record Billings and Cash-flow
RALEIGH,
N.C., Dec 20, 2007 (BUSINESS WIRE) -- Red Hat, Inc. (NYSE: RHT), the world's
leading provider of open source solutions, today announced financial results
for its third fiscal quarter ended November 30, 2007. Red Hat's current
fiscal year will end February 29, 2008.
Total
revenue for the quarter was $135.4 million, an increase of 28% from the
year ago quarter and 6% from the prior quarter. Subscription revenue was
$115.7 million, up 30% year-over-year and 6% sequentially.
Net
income for the quarter was $20.3 million, or $0.10 per diluted share, compared
with $18.2 million, or $0.09 per diluted share, for the prior quarter and
$14.6 million, or $0.07 per diluted share, in the year ago quarter. Non-GAAP
adjusted net income for the quarter was $39.7 million, or $0.19 per diluted
share, after adjusting for stock compensation and tax expense as detailed
in the tables below. This compares to non-GAAP adjusted net income of $36.9
million, or $0.17 per diluted share, in the prior quarter and $30.1 million,
or $0.14 per diluted share, in the year ago period.
Non-GAAP
operating cash flow, as detailed in the tables below, totaled $76.7 million
for the quarter, up 24% from the year ago quarter and 20% sequentially.
Total cash, cash equivalents and investments as of November 30, 2007 were
$1.3 billion. At quarter end, Red Hat's total deferred revenue balance
was $422.6 million, an increase of 36% year-over-year and 12% sequentially.
Other
highlights of the quarter included the following:
--
Red Hat has been named the leader in vendor value and satisfaction by the
independent Ziff Davis' 2007 "CIO Insight Vendor Value" survey, which polls
IT executives on the value and reliability delivered by vendors. This marks
the third time in four years that the company has been ranked #1 among
all global IT vendors, and the fourth consecutive year Red Hat has been
named the most valued enterprise software vendor. Red Hat also received
a remarkable 97% customer loyalty rating from the CIOs polled in the survey.
--
Red Hat introduced the JBoss Advanced Partner Program, that offers value-added
resellers (VARs) and systems integrators (SIs) in North America the tools,
resources and support to increase their share in the middleware segment.
Red Hat has already teamed with over 70 JBoss-specific channel partners
worldwide.
"We
are very pleased to be recognized by CIO's for the fourth consecutive year
as the most valued Enterprise Software Vendor and best overall IT Vendor
for the third time in four years," stated Charlie Peters, Executive Vice
President and Chief Financial Officer of Red Hat. "There is a direct correlation
between our ability to deliver real business value and the loyalty of our
large and growing customer base. As a result of strong market demand and
solid execution from our worldwide organization, we were able to deliver
another strong financial performance in the third quarter and we are optimistic
about our outlook."
Red
Hat To Webcast Results for Third Quarter of Fiscal Year 2008
RALEIGH,
N.C.--(BUSINESS WIRE)--Nov. 19, 2007--Red Hat, Inc. (NYSE:RHT), the world's
leading provider of open source solutions, will discuss results of its
third quarter of fiscal year 2008 on Thursday, December 20, 2007, beginning
at 5:00 pm ET. Red Hat's fiscal third quarter will end November 30, 2007.
Thomson/CCBN
will webcast the live event, which can be accessed on Red Hat's Investor
Relations web-page http://investors.redhat.com. A replay will be available
beginning approximately two hours after the conclusion of the live event.
The
webcast is also being distributed through the Thomson StreetEvents Network
to both institutional and individual investors. Individual investors can
listen to the webcast at www.fulldisclosure.com, Thomson/CCBN's individual
investor portal, powered by StreetEvents. Institutional investors can access
the event via Thomson's password-protected event management site, StreetEvents
(www.streetevents.com).
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