Red Hat Names CFO After Restatements
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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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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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Krispy Kreme Doughnuts Inc. on Tuesday  said it would restate financial statements for its 2004 fiscal  year due to errors in how it accounted for the repurchase of  franchises, which could reduce earnings more than the company  had previously forecast.
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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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Farmer Mac, the government-chartered buyer of U.S. farm loans, said it would restate its financial results for 2003, 2004 and 2005 to correct how it accounted for some derivatives transactions.
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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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(InfoWorld) - A CFO who helped Nortel Networks recover from an accounting scandal and years of poor results is leaving the company after about two years on the job. Peter Currie, also an executive vice president, will leave April 30 to take on unspecified new challenges, according to a Nortel statement. The Brampton, Ontario, company is searching for a replacement. After Currie leaves, he will provide advice and assistance to ensure a smooth transition, the company said. Currie has spent much of his career at Nortel, including as CFO from 1994 to 1997. He returned in February 2005 following a scandal in 2004 that led to financial restatements and the firing of CEO Frank Dunn, CFO Douglas Beatty, and Controller Michael Gollogly. Currie replaced another CFO, William Kerr, who had stepped in after Beatty to complete the restatements. Under current President and CEO Mike Zafirovski, who took the helm in October 2005, Nortel has undergone a major restructuring and several management changes. Zafirovski has tried to focus the wide-ranging company, which faces many strong competitors, most notably Cisco Systems. Last year, Nortel formed a partnership with Microsoft to develop products for IP communications. Currie has steered Nortel through difficult financial issues and improved its corporate governance, Zafirovski said in a written statement. To have a complete facelift, Nortel needs more change in the executive ranks under Zafirovski, said Yankee Group analyst Zeus Kerravala, a long-time Nortel watcher. Customers want a clearer picture of where Nortel will focus its investments, especially now that it's working with Microsoft, he said. "There are a lot questions as to what Nortel looks like five years from now, but even next year," Kerravala said.
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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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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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Red Hat (nasdaq: RHAT - news - people ) reported strong fiscal third-quarter earnings but revenue missed forecasts. In Wednesday after-hours trading, shares of Red Hat were down $1.00, or 6.6%, to $14.07.
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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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American Tower Corp. , a Boston-based operator of broadcast and communications towers, said yesterday it will restate financials to correct accounting for past stock options grants. The company will file an amended 2005 annual report that includes consolidated financial statements for the 2003 through 2005 fiscal years, plus selected financial data from 2001 through 2005, reflecting stock options expenses and ...
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Linux distributor Red Hat Inc. has appointed a new chief financial officer following the resignation of former CFO Kevin Thompson and the recent restatement of its revenue after an accounting policy change.
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Does a recent stock buyback mean you should get some Red Hat too?
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Charles Peters Jr. is taking over as the company deals with the aftereffects of restating its earnings for the past three fiscal years.
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Red Hat&#39;s new CEO plans to keep the company focused on its core Linux OS and middleware business while also improving the service it offers to customers, he said Thursday.&quot;It&#39;s a very exciting time for Red Hat, we have a very bright future in front of us. Our business model is strong and our growth remains very, very robust,&quot; said Jim Whitehurst, who was speaking in Tokyo during his third week in the job.Whitehurst came to Red Hat from Delta Air Lines&#160;where he served as chief operating officer for two years. During that time he gained experience of being a customer of major IT vendors and says he knows well what is expected of companies like Red Hat.&quot;From a user perspective an absolute focus on service is critical. Based on talking to customers so far, one observation I have is that we need to re-double our effort working with our various partners in service,&quot; he said.Because much of Red Hat&#39;s business is done through resellers and the channel, there can sometimes be disconnects in customer service. For example, Red Hat might end up telling a customer to contact the partner while the partner refers the customer back to Red Hat, he said.But is Whitehurst the right man to be talking about customer service? After all, he came to Red Hat from an industry that is the subject of frequent complaints from its customers.&quot;I think airlines only beat out cable TV operators in customer satisfaction surveys so I&#39;m certainly not going to defend the airline industry&#39;s record on customer service,&quot; he said. Experience at Delta taught him the need to pick a small number of things and do them well to improve overall satisfaction, he said.&quot;The Delta situation was the fastest major bankruptcy ever and during that situation our customer service numbers actually went up quite significantly. We did it by focusing on a couple of things. In the airline industry it&#39;s clean airplanes and on-time, those were the two things we focused on. I know those sound like two little things but they significantly impact the customer experience,&quot; said Whitehurst.For Red Hat he said he is still working on which areas will be the priorities that he focuses upon.&quot;I understand the importance from the customer&#39;s perspective of excellent customer service in IT,&quot; he said. &quot;As an industry, information technology is not known for excellence in serving our customers well and I have been adamant from day one that everything Red Hat does will be viewed through the eyes of the customer.&quot;
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Company co-founder explains why the Linux company chose the name Red Hat.