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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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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The electronics maker will stop retailing its Linux handhelds in the United States, joining a retreat from the once-popular market.
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UTStarcom Inc. on Tuesday said its third-quarter profit plummeted, but beat Wall Street expectations. The networking products company reported earnings of $5 million, or 4 cents per share, down from $59.
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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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Prudential Equity Group upgraded Red Hat (nasdaq: RHAT - news - people ) to &quot;overweight&quot; from &quot;neutral weight&quot; and maintained a $17 target price, saying the software company remains the leader in the Linux market, which is among the fastest-growing
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Does a recent stock buyback mean you should get some Red Hat too?
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Not bad, not bad Computerland, which provides IT services to medium and larger business, made an operating profit of Â£1.3m on turnover of Â£30.8m for the six months ended 31 October 2006. Profits before tax were Â£1.3m, up from Â£686,000 for the same six months of 2005â¦
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Krispy Kreme Doughnuts, reeling from what it called accounting errors, said that it would reduce its reported profit for last year.
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RWE AG, Germany s second-largest utility, cut its profit forecast for this year because of costs for asset sales and higher coal prices.
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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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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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The clothing retailer's profits take a hit on weather woes and bigger-than-expected markdowns
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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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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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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.