Red Hat pulls out a profit
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com December 22, 2004, 2:57 PM PT. Linux seller Red Hat reported on Wednesday that its third-quarter net income jumped 155 percent year-over-year to $10.8 million, as its software business matured.
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Linux software company Red Hat (Nasdaq: RHAT) has entered a partnership with Unisys (NYSE: UIS), maker of high-end servers. The alliance will allow Unisys to offer a more tightly integrated server package comprising hardware, software and the services to support it.
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OCTOBER 01, 2004  - After his company announced that it&#39;s acquiring security and authentication tools from Netscape Security Solutions to bolster its software arsenal (see story), Red Hat Inc.
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Open-source software provider Red Hat Inc. said Thursday that its third quarter profit rose 12 percent as a surge in subscriptions helped offset increased spending on marketing and research.
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Royal Ahold, the Dutch owner of grocery chains including Stop & Shop in the United States, said first-quarter earnings and sales were down slightly as a result of worse margins and a weaker dollar. Net profit was 237 million euros ($320 million), down from 239 million euros a year earlier. Sales slipped to 13.2 billion euros ($17.8 billion), from 13.3 billion euros.
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In October, Oracle sent Red Hat's stock plummeting on the announcement that the database vendor would offer cut-rate support for Red Hat Enterprise Linux, under the "Unbreakable Linux" brand. Could Larry Ellison now be planning a repeat with "Unbreakable MySQL"?
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The company has signalled profits of between Â£285 million and Â£295 million, down on Â£311 million a year ago, following a poor run of sales.
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The clothing retailer's profits take a hit on weather woes and bigger-than-expected markdowns
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Photobooth operator Photo-Me looks to sell part of its business after seeing first half profits fall by 30%.
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Net profit dropped at the consumer products maker to 721 million euros ($1.04 billion) in the last three months of 2007, from 2.03 billion euros a year earlier.
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Red Hat has appointed its CFO to replace the sudden departure of Kevin Thompson two months ago. Charlie Peters is the new head of finance at the leading Linux distributor and takes the title Executive Vice President and Chief Financial Officer.
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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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(InfoWorld) - Global expansion and strong Enterprise Linux subscription sales lifted Red Hat's revenue and net income to double-digit growth for its fiscal 2008 second quarter. The company reported profit of $18.2 million, or $0.09 per share, an increase of 64 percent year over year for the quarter that ended Aug. 31. Last year for the same quarter, Red Hat reported profit of $11.04 million. Revenue for the most recent second quarter was $127.3 million, an increase of 28 percent over the same quarter last year when the company reported revenue of $99.67 million. Non-GAAP (generally accepted accounting principles) adjusted net income for the quarter was $36.9 million, or $0.17 per share, a figure in line with consensus estimates from analysts at Thomson First Call. Subscriptions revenue continued to outshine revenue from training and services, though both segments saw increases for the quarter. Revenue from subscriptions comprised $109.17 million, or 86 percent of revenue, while revenue from training and services was $18.1 million, or 14 percent. Red Hat attributed its strong growth to overseas expansion, particularly in Japan, where a Nikkei Market Access survey ranked Red Hat Japan the number-one technology vendor that customers intend to conduct business with in the future. The company also saw increases in operating margin and operating cash flow, business performance improvements that are important to Red Hat's global expansion, said Charlie Peters, executive vice president and CFO, in a statement. Non-GAAP operating margin was 20.7 percent for the quarter, an increase from 17.8 percent year over year. Non-GAAP operating cash flow was $63.7 million for the quarter, an increase of 43 percent year over year and 22 percent, sequentially. Red Hat continues to be the leading commercial provider of Linux server software, but the company also expanded its portfolio of open-source products for enterprise customers in the second quarter. Notable product releases during the quarter were JBoss Enterprise Application Platform 4.2, software infrastructure to help enterprises migrate legacy applications to an open-source platform, and a beta of Red Hat Developer Studio, a development runtime and set of open-source tools built on the popular Eclipse development framework. Red Hat also made gains in increasing support among third-party applications for Red Hat Enterprise Linux and passed the 3,000 mark for the number of applications certified to run on its enterprise OS. On a conference call Tuesday, Red Hat Chairman, CEO and President Matthew Szulik announced some changes to Red Hat's business structure as the company prepares to expand from a Linux company into a full-service enterprise software and services provider. Beginning Tuesday, the company is split into three lines of business: infrastructure, middleware, and online services. Each of those divisions will have a general manager who will be compensated on the profitability of his or her business, he said. General managers also will be responsible for product marketing, and Red Hat's Michael Chen, who is returning to the U.S. from China after a three-year stint building Red Hat's business there, is now vice president of corporate marketing, Szulik said. This story was updated on September 25, 2007
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Longtime Red Hat CEO Matthew Szulik is being replaced, the company announced on the same day it posted a quarterly revenue gain of 28 percent.James Whitehurst, formerly the COO for Delta Airlines, will take on Szulik&#39;s leadership positions and a seat on the board starting in the new year. Szulik, currently president and CEO, will remain as chairman of the board.Szulik had been Red Hat&#39;s CEO for the past eight years and is one of the most prominent business executives in the open-source world.Whitehurst joins Red Hat as the company works through a transition aimed at helping it compete better with giants like Oracle and Microsoft. The company is best known for its Linux server distribution, but that market is getting increasingly crowded. As a result, Red Hat is trying to reach out into other areas or beef up existing offerings, like its services.Despite the competitive landscape, Red Hat managed to produce solid results for its third quarter ending Nov. 30. It posted revenue of $135.4 million, an increase of 28 percent over the same period last year.Net income reached $20.3 million or $0.10 per diluted share, compared with $14.6 million or $0.07 per diluted share in the corresponding quarter of 2006.The company highlighted its JBoss Advanced Partner Program, launched during the quarter, aimed at offering support services to value-added resources in North America.&#160;Red Hat bought JBoss last year&#160;as part of its efforts to expand its offerings.
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Slashed earnings estimate pulls down shares.
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Whatever pleasantries once existed between Sun Microsystems and Red Hat have vanished. This won&#39;t come as a shock to many of you.
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Company co-founder explains why the Linux company chose the name Red Hat.