Red Hat Down on Lower-Than-Expected Q3 Results
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Red Hat said it ended its third quarter with cash and investments totaling US$979 million, according to a company statement. The company said it earned 6 cents a share in its third quarter
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Nortel said it expects revenue for the third quarter to fall short of expectations.
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Texas Instruments Inc.  posted a lower quarterly profit on weak demand for its calculators, and gave a disappointing revenue forecast for the third quarter, sending shares down 3 percent on Monday.
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Sales were lower than expected, and the quality of earnings is in question.
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Blames Xmas and stricken UK customer System builder and IT distributor Horizon Technology Group said today that revenue fell below expectations in the last quarter partly because of a dip in orders in December.â¦
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The high-end computer maker says revenue for the first quarter of fiscal 2005 will be lower than previously projected.
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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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(InfoWorld) - 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. A close analysis of the situation, however, may give savvy investors -- and open-source advocates -- courage. Red Hat's problems are probably more short-lived than Novell's. Red Hat investors are rattled: Company shares (RHAT) have lost almost US$5 in value over the last week, closing Thursday at $20.59, down $0.38 for the day. On Tuesday, Red Hat reported solid second-quarter earnings per share of $0.11, on revenue of $99.7 million. This beat expectations of analysts polled by Thomson First Call, of EPS of $0.10 on sales of $97.5 million. The problem was the company's forecast for next quarter: revenue of $103.5 million to $105.0 million, compared with the consensus estimate of $106 million. Even before these numbers came out, analysts were questioning the company's ability to execute a smooth merger with Jboss. Up until recently, investors bought into Red Hat's strategy to move up the software stack. The Jboss acquisition gives it an application server. But disappointing cash flow suggest problems with executing this strategy, and even perhaps some push-back from customers. Four different brokerages in the past month have downgraded their advice on Red Hat stock, with Soleil Securities Group Inc. recommending a "sell." But not all analysts are dour. Banc of America and UBS analysts, for example, have issued reports saying that Red Hat's problems are probably temporary, and that the company's strategy could still pay off with increased sales in the next few quarters. Novell could face more long-term problems. The company has had trouble articulating a coherent strategy. And even though Novell sold its stake in Celerant Consulting to focus on core open-source software, stand-alone Linux sales for the company hover around just $10 million. But it's hard to analyze Novell's business using up-to-date figures, since the company postponed its quarterly report earlier this month, as it completes a voluntary internal review around the granting of stock options to employees. Novell may have to restate earnings. The delay in its earnings report caused the Nasdaq to issue a delisting notice. So far, Novell has been able to stay listed, by protesting the notice and requesting a review process. The next few months should clarify issues around the two companies. Novell needs to get its internal review done, come out with earnings statements that analysts can rely on, and of course eventually show growth in new-software licenses. Red Hat has fewer hurdles to jump. An uptick in cash flow should offer assurances that its strategy to offer a broader portfolio of tools and server software is on track. REFERENCES: Novell faces delisting from Nasdaq, Sep. 21, 2006ADVERTISEMENTMAKE SOA REAL WITH IBM WEBSPHERE PODCASTStreamline processes and maximize efficiency within a proven service oriented architecture. Take back control of your business processes with IBM WebSphere.
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Release of the Linux client has slipped from August to October at the soonest.
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Hewlett-Packard shares fall after disappointing third-quarter profits, while the firm warns the final quarter will also fall short of expectations.
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Q3 inventory corrections put pressure on vendors to perform in Q4
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Red Hat Inc. RHAT.O, a Linux  software distributor that in July said it would restate three  years' of financial results, on Thursday named Charles Peters  as chief financial officer.
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Diversified manufacturer 3M Co.   said on Friday it expects its second-quarter and full-year  results to be at or below Wall Street expectations, citing high  start-up costs and weak demand for its optical film, sending  its shares down more than 7 percent.
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Red Hat (NOVL:Nasdaq - news - research) got its second upgrade in two week Tuesday, and promptly leaped northward. In recent trading, shares of the Linux Vendor were up $1.42, or 10.6%, to $14.84 in heavy volume.
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SAN FRANCISCO - Advanced Micro Devices Inc. reported a third-quarter profit from a loss a year-earlier on today, but sales fell from the second quarter in line with the chip maker&#39;s recently reduced outlook.
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A low P/S ratio can point to undervalued companies.
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Red Hat Inc. , a Linux software distributor that in July said it would restate three years' of financial results, on Thursday named Charles Peters as chief financial officer.