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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The Motley Fool - Open-source software leader Red Hat (Nasdaq: RHAT - News) reports earnings after the bell today, and analysts are expecting a doozy. With on-again-off-again reports that Oracle (Nasdaq: ORCL - News) may enter the Linux market, Red Hat's stock has certainly been volatile, but management has been quite sanguine about further competition from the database giant. Is this one huge strategic misstep or savvy thinking? Read on for my thoughts.
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Not a good Q2 Red Hat was grilled by Wall Street today on plans its for JBoss after profits took a nose-dive in Q2.â¦
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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) - Red HatÂ has scheduled a March release for RHEL5 (Red Hat Enterprise Linux 5), the latest version of its open-source operating system, while it tries to fend off new competitive threats from OracleÂ and the Microsoft-NovellÂ partnership. Red Hat CTO Brian Stevens discussed the RHEL5, the competition, the Fedora Project, and other issues with IDG News Service. Following is an edited transcript of the interview, conducted this week at the InfoWorld Virtualization Executive Forum in San Francisco: IDGNS:Â RHEL5 comes out in March. What are some of the features that will move virtualization forward and keep Red Hat competitive? Stevens: RHEL5 is a scalable, full native 64-bit platform. In the second quarter of 2005, there was a crossover point where more 64-bit x86 systems were sold than 32-bit systems. So there is this untapped (64-bit) capability within the IT shops as many systems are still running 32-bit applications on 64-bit systems. With RHEL5, we aim to help allow IT and independent software vendorsÂ to realize the power of 64-bit computing on these multicore architectures. There is a lot of untapped capability in performance there, so we aim to help that. As to virtualization, it comes as an integrated feature set for RHEL5. IDGNS: How has the move by Oracle to undercut you on the price for its Linux support and the partnership between MicrosoftÂ and NovellÂ affected the direction you are taking Red Hat as CTO? Stevens: It hasn't really affected the day-to-day activities because Red Hat is focused on creating value for customers. We have developed really close relationships to understand where we need to drive technology to make a meaningful impact on their businesses. We focus on the fundamentals, not on something else. If you start to think about what is going to create revenue for the company versus what's going to create value for the customer, you're thinking about it the wrong way. Our results for the last quarter show that we are largely unaffected. We look at the vibrancy of the Fedora Project, our open-source community. Fedora is Red Hat's vehicle for bringing advanced technology really quickly to end-users. The last release of Fedora has been out for about four months, and we are averaging more than 100,000 downloads a week and 1.5 million downloads total. Compare that 100,000 a week to Oracle with their release of Oracle Linux. We reach in seven hours what they reached in their very first month of releasing that source code. With the Novell-Microsoft deal, we continue to believe interoperability is important. We didn't see anything new and meaningful in that interoperability agreement. With RHEL5, we're going to show rich compatibility between Windows and Linux. We already have that. We are absolutely open to and willing to work with Microsoft under an interoperability agreement but one that does not require our customers to pay anÂ intellectual property tax on Linux. IDGNS: What are your projects for the coming year besides RHEL5? Stevens: We'll continue an initiative we started last year around AMQP (Advanced Message Queuing Protocol). It's going to transform how you manage messaging systems in grid environments. We'll be bringing that to a bunch of (test) customers this year. AMQP is about allowing you to have data sources and data feeds that can scale across grid environments. IDGNS: What else? Stevens: We're leading the work in Linux around predictability with a project called Real Time. It's not just about dropping latency, even though it does that. It's around how we get determinism. It's really critical that the workloads you're running, whether its multimedia playback or transactions, know that there is a sort of boundary on the completion of transactions. Real Time is basically a rearchitecture of how the Linux kernel does locking and scheduling. We've had a team working on this for the past year and a half and we will be working with customers under a proof of concept through the course of this year.
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Survey commissioned by the two companies asserts that their high-profile agreement will drive customers away from joint rival Red Hat.
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Asian governments are pivotal to Red Hat&#39;s goal of earning 60 percent of its revenue from outside the U.S. by the end of 2009, said Matthew Szulik, the company&#39;s chairman, chief executive officer, and president, in a conference call on Thursday.Governments in the region are beginning to see open source as a boost for their economies and a way to increase technological innovation in the region, Szulik said. The governments of South Korea, Japan, Australia, and China have been &quot;positive spokespeople&quot; for the growing adoption of Linux and open source software in the region, he added.Most of the business for Red Hat in the region, as in the rest of the world, is in the transition from Unix and legacy systems to the Linux operating system. Customers are typically in the financial services, telecommunications, technology and the government sector, Szulik said.At the end of August, Red Hat&#39;s revenue for the first six months of its fiscal year was $246 million, up 34 percent from the previous year. About 85 percent of its revenue came from software subscriptions with the balance coming from services like consulting and training. The company does not break out revenue by regions.Red Hat also had $33 million in operating income for the six months period, up 48 percent from the same period in the previous year. The company has over $1.3 billion in cash on its balance sheet, said Charlie Peters, Red Hat&#39;s chief financial officer.Apart from continuing opportunities in the market for replacement of the Unix operating system with Linux, Red Hat is also seeing revenue coming in from middleware, Peters said. The company&#160;acquired JBoss, a vendor of open-source middleware, in June 2006.Red Hat plans to roll out new technologies in the coming months that will help customers build global virtualized computing infrastructure, Szulik said. The company introduced server, storage, and desktop virtualization as part of Red Hat Enterprise Linux 5 earlier this year.An increase in availability of third-party applications around Linux helped boost demand, as Linux has been expanding its share of servers&#160;based on Intel&#39;s x86 architecture and&#160;IBM&#39;s mainframe&#160;and server environments, Szulik said. In addition, there has been an increase of technically trained staff with Linux and open-source skills, he added.
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US ban on web gambling forces company into red.
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Piper Jaffray downgraded the software maker's stock to  "market perform" from "outperform."
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There was stellar revenue growth, but margins and stock compensations pulled the bottom line down.
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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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Photobooth operator Photo-Me looks to sell part of its business after seeing first half profits fall by 30%.
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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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Its rental software was no longer officially supported, so the company hired a contractor to fix that problem and moved from Red Hat to Ubuntu Linux at the same time.
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Novell Inc. is reporting a big turnaround in its financial picture. The networking company is reporting a third-quarter profit of $23.4 million on sales of $304.6 million. A year ago, Novell reported a loss of $12.4 million on sales ...
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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.