Red Hat beats Q2 expectations with Linux sales
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Revenue up 28%, net income up 64% Red Hat posted today a sharp rise in earnings during its fiscal second quarter, spurred by (you guessed it) an increase in Linux sales.â¦
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InfoWorld - The release of Red Hat Enterprise Linux 5 in March should strengthen Red Hat&#39;s lead in the open-source software market and fend off challenges from Oracle, Microsoft, and Novell, an industry analyst said.
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DECEMBER 23, 2004  - Red Hat Inc. reported a 55% increase in third-quarter revenue on the strength of an 80% increase in software subscription revenue.
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(InfoWorld) - The introduction of a new version of its Linux distribution and new JBoss software helped Red Hat increase profit to $16.2 million, or $0.08 a share, on revenue of $118.9 million in its fiscal first quarter ended May 31, the company reported Wednesday. The report compares favorably to the year-ago quarter, in which Red Hat earned a profit of $13.75 million, or $0.07 a diluted share on revenue of $84 million. The company released Red Hat Enterprise Linux 5 in March and also introduced new developer class and enterprise class editions of JBoss Java-based software. Red Hat acquired JBoss in 2006. Red Hat also rolled out its SOA strategy in the quarter. Red Hat said that after excluding one-time charges and adjusting for stock compensation and tax expense, its adjusted net income for the quarter was $33.7 million, or $0.16 per diluted share Red Hat distributes open-source Linux software and charges companies a subscription to provide updates and other technical support. The company said $103 million of the total $118.9 million in quarterly revenue was subscription revenue. Charlie Peters, CFO of Red Hat, said the company forecasts revenue of between $124 million and $126 million in the current quarter, which ends Aug. 31. The company expects to earn $0.17 per share in the quarter, excluding one-time expenses and other charges, he said. This story was updated on June 27, 2007
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The Motley Fool - On Wednesday, Sept. 27, longtime Linux leader Red Hat (Nasdaq: RHAT - News) released Q2 2007 earnings for the period ending Aug. 31, 2006.
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The introduction of a new version of its Linux distribution and new JBoss software helped Red Hat increase profit to $16.2 million, or $0.08 a share, on revenue of $118.9 million in its fiscal first quarter ended May 31, the company reported Wednesday.
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SEPTEMBER 07, 2004  - IT services and hardware vendor Unisys Corp. has upped its involvement with Linux by joining the Red Hat Partner Community one month after unveiling support for Linux on its ES7000 servers (see story).
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Red Hat Inc.'s woes this week raise the issue of whether IT investors are turning sour on open source. A somewhat disappointing forecast for the next quarter has investors fleeing, just as they have from the company's open-source rival, Novell Inc.
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The maker of open-source software said higher revenue from subscriptions for its Linux operating software propelled its results.
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Red Hat has announced it is changing the way it books support subscription revenue, based on a recommendation from its auditors. The accounting changes prompted the Linux supplier to correct and restate its
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(InfoWorld) - The release of Red Hat Enterprise Linux 5 in March should strengthen Red Hat's lead in the open-source software market and fend off challenges from Oracle, Microsoft, and Novell, an industry analyst said. After meeting with Red Hat executives Friday, W.R. Hambrecht & Co. financial analyst Robert Stimson wrote in a research note Monday that he is "confident that Red Hat will remain the premier Linux player despite recent competitive hoopla." Red Hat's stock price declined in October 2006 whenÂ Oracle announced it would undercut Red HatÂ on the price of support for Red Hat's open source Linux distribution. That was followed in November by news ofÂ a collaboration between Microsoft and Novell. Microsoft said it would work with the Linux distributor to make Windows interoperable with SUSE Linux. Microsoft said it will also help market SUSE to its customers. While those developments caused Red Hat's stock price to dip below $15 a share, from $27 before the news, they "have had little to no effect on Red Hat's underlying fundamentals," Stimson wrote. Red Hat stock closed Monday at $22.54. Hambrecht forecasts Red Hat to finish fiscal 2007, which ends Feb. 28, with earnings per share of $0.51 on revenue of $401.6 million, up from $0.39 a share on revenue of $278.3 million in fiscal 2006. Expected new features of Red Hat Enterprise Linux 5 include an integrated server and storage virtualization capability that should be competitive with industry-leading virtualization software from VMware, Stimson said in an interview. Red Hat 's virtualization software uses just 3 percent to 4 percent of a server's CPU to run, versus 20 percent or more for VMware, he said. That makes Red Hat better able to run multiple software applications on one physical server. Stimson considers the competition from Oracle and Microsoft/Novell "a nonevent so far" as he's seen little evidence that Oracle is winning support business away from Red Hat. Oracle did not reply to a request for comment. Stimson has seen a "backlash" in the open-source community to the Microsoft/Novell arrangement. He noted that all five members of a Novell software development team quit Novell after the Microsoft deal was announced, and four of them went to Red Hat. They were working on the Samba Project, developing an open-source file and print server software product than can run on a Windows operating system. "I think (Microsoft/Novell) is tainted now because I think they are violating [the] GPL," said Jeremy Allison, the fifth member of the team to quit Novell in December 2006. He went to Google but emphasized that he was not speaking for Google on this subject. GPL stands for General Public License, the contract that keeps open-source software open. Analyst Stimson said the Microsoft/Novell partnership has only strengthened Red Hat's position in the market because of the reaction from others in the open-source community.
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U.S.-based Red Hat Inc., the world's top distributor of open-source Linux software, expects its international business to increase to half its sales within 12 months, an executive said on Tuesday.
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Plus: Adobe strong despite drop...Linux demand lifts Red Hat profit...Strong sales of phones, other gadgets boost PalmOne profit.
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Linux vendor Red Hat increased its third-quarter revenue and profit thanks to an 80% increase in software subscription revenue, the company said.
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The worldwide market for computer servers has posted its sixth consecutive quarter of growth, as revenues from Linux servers topped $1 billion in the third quarter and IBM and Hewlett-Packard Co.
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CRN India: Red Hat aims to more deeply penetrate the enterprise by launching its first Linux distribution based on the Linux 2.6 kernel.
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Red Hat Wednesday made its Enterprise Linux OS available on demand by releasing it for the Amazon Elastic Compute Cloud (EC2) service that hosts business applications.