Red Hat pulls out a profit
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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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Shares of Red Hat Inc., the world&#39;s biggest distributor of the Linux computer-operating system, fell as much as 11 percent after the company&#39;s sales fell short of analysts&#39; estimates for the third straight quarter.
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Red Hat (Nasdaq: RHAT), provider of Linux software and support, has issued a security alert to its customers. E-mails are circulating, says the company, that appear to come from Red Hat but actually are phishing hoaxes.
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Red Hat (Nasdaq: RHAT) has acquired Netscape  server-software products of AOL Time Warner (NYSE: AOL), as part of the Linux vendor's "open-source architecture" strategy.
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InfoWorld - Red Hat has changed the pricing model for its SaaS-based system monitoring and added support for more software packages, the company said on Wednesday.
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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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Plus: Linux demand lifts Red Hat profit...Strong sales of phones, other gadgets boost PalmOne profit...Lawson expects quarterly loss.
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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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Two years ago today, Red Hat CEO Matthew Szulik confirmed the purhase of two prized enterprise products from AOL - Netscape Directory Server and Netscape Certificate Management System. He also noted than Red Hat intended to open source the products within 12 months.  Red Hat paid $25 million for the assets. You could say that was pretty good considering that in 1998, AOL paid more than $4 billion for Netscape. Matthew's purchase represented the last divestiture of Netscape's assets by AOL. If you wander on over to the Fedora Directory Server (FDS) site you can take a look at an enhanced version of the Netscape Directory Server. This isn't your older brother's directory server. Aside from open sourcing the Netscape server, you'll find an abundance of documentation to help you learn and operate a stellar product. In the case you have little familiarity with FDS, it has features you will not find in other open source LDAP servers.  These include: Multi-master replication  Hot-backups and restores  Integration utility for Microsoft Active Directory users and groups  A graphical management console and web available administration
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Red Hat Enterprise Linux 5 helped both revenue and profit, the company said.
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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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(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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The chip maker reported a larger-than-expected loss but showed progress in curbing its expenses and capturing a share of strong demand for personal computers.
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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.
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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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Computer industry bellwether Dell reports an 11% drop in quarterly profit because of a one-off tax charge.
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Japanese electronics maker Hitachi slashed its full-year profit forecast because of ballooning costs to repair nuclear reactors and slumping sales of some products, saying Friday it now expects to lose 55 billion yen this year, or about $467.3 million.