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 

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Red Hat Reports First Quarter Results
Revenue of $174 million, up 11% from prior year
GAAP EPS of $0.10, non-GAAP EPS of $0.15; both up 25% from prior year
Repurchased $47 million of common stock
RALEIGH, N.C., Jun 24, 2009 (BUSINESS WIRE) -- Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced financial results for its fiscal year 2010 first quarter ended May 31, 2009. 

Total revenue for the quarter was $174.4 million, an increase of 11% from the year ago quarter. Subscription revenue for the quarter was $148.8 million, up 14% year-over-year. 

"We are pleased to report better than expected revenue and EPS results in Q1," stated Jim Whitehurst, President and Chief Executive Officer of Red Hat. "Red Hat's growth is driven in part by our ability to help enterprise customers save money in a challenging IT spending environment. Our open source solutions drive new capabilities, efficiencies and functionality into the mission critical infrastructure of our customers." 

GAAP operating income for the first quarter was $25.1 million, or a 14.4% operating margin. After adjusting for stock compensation and amortization expenses as detailed in the tables below, non-GAAP operating income for the first quarter was $40.7 million, up 19% year-over-year. Non-GAAP operating margin was 23.4%, up 160 basis points from the year ago quarter. 

Net income for the quarter was $18.5 million, or $0.10 per diluted share, compared with $17.3 million, or $0.08 per diluted share, in the year ago quarter. Non-GAAP net income for the quarter was $28.7 million, or $0.15 per diluted share, after adjusting for stock compensation and amortization expenses as detailed in the tables below, as compared to $26.0 million, or $0.12 per diluted share, in the year ago quarter. 

Operating cash flow totaled $61.2 million, as compared to $63.4 million in the year ago quarter. At quarter end, the company's total deferred revenue balance was $567.3 million, an increase of 15% on a year-over-year basis. Total cash, cash equivalents and investments as of May 31, 2009 were $884.5 million. 

"While we remain focused on managing discretionary costs and improving efficiencies, we also continue to invest in growth opportunities in middleware, virtualization and cloud computing," stated Charlie Peters, Executive Vice President and Chief Financial Officer of Red Hat. "These efforts combined with solid top line growth contributed to non-GAAP operating income growth of 19% year-over-year and healthy cash flow. In the quarter, we repurchased $47 million of common stock while strengthening our balance sheet with a 5% sequential increase in cash and investments. On a year-over-year basis, we have reduced our diluted shares outstanding by approximately 11%." 
 

Red Hat to Webcast Results for Third Quarter Fiscal Year 2009 
RALEIGH, N.C., Dec 1, 2008 (GlobeNewswire via COMTEX News Network) -- Red Hat, Inc. (NYSE:RHT), the world's leading provider of open source solutions, will discuss results of its third quarter fiscal 2009 on Monday, December 22, 2008, beginning at 5:00 p.m. ET. 
The live webcast can be accessed on Red Hat's Investor Relations Web page http://investors.redhat.com and a replay will be available beginning approximately two hours after the conclusion of the live event. 
 

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."