Author archive

First Quarter Earnings Reflections for Red Hat’s Fiscal Year 2009

by Tom McCallum, Vice President, Investor Relations

On June 25, we reported the results for Red Hat’s first quarter of Fiscal Year 2009, which began at the start of March 2008. Initial street reaction to our announcement ranged from “Solid Results” to “In-Line.” There were two downgrades based on relative valuation, but these analysts remain postive on RHT and want to see further earnings expansion to increase their price targets and ratings. A number of investors and analysts said that they would have liked to see higher billings growth in the quarter, but they noted that the additional color on the solid bookings that was discussed on the call was very helpful. Overall, Red Hat’s earnings were solid, especially considering the current challenges of the economy.
» Read more

Filed under Events, Company on July 7th, 2008 | Comments Off

Red Hat Delivers Solid Earnings

by Tom McCallum, Vice President, Investor Relations

At the end of last week, we reported the results for Red Hat’s Fiscal 4th quarter and Fiscal Year 2008. Initial street reaction to our announcement was positive and has been reflected in the press and through trading in the days since the call. Some earnings highlights include:

4Q08 financial highlights

• Revenue: $141.5 million, up 27% y/y
• Subscription revenue: $121.9 million, up 27% y/y
• Bookings: over $200 million
• Cash & investments balance: $1.3 billion
• Repurchased $66 million of our common stock in the quarter

FY08 financial highlights

• Annual revenue $523 million, up 31% y/y
• Subscription revenue $450 million, up 32% y/y
• Deferred revenue of $473 million, up 40% y/y

» Read more

Filed under Company on April 2nd, 2008 | Comments Off

Red Hat Growth Recognized by Forbes Magazine

by Tom McCallum, Vice President, Investor Relations

Last week, Forbes recognized Red Hat on its list of the top 25 fastest-growing technology companies in America. Forbes’ sixth-annual list includes a broad spectrum of companies from biotech to aerospace, and recognizes seven software-related companies. Red Hat made the list this year for the first time and was ranked eleventh overall. Other top names in technology on the list include Google, ranked first overall, and SalesForce.com, ranked second.

The list may be published annually, but the criteria for inclusion is based on a long horizon of performance and the delivery of solid results that reflect hard work over the years. The criteria for Forbes’ list mainly focused on sales growth, profitability, growth outlook and the lack of legal, accounting or corporate governance issues.
» Read more

Filed under Brand, Awards on February 4th, 2008 | Comments Off