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March 29, 2015 1:04 AM ET

Software

Company Overview of Red Hat, Inc.

Company Overview

Red Hat, Inc. provides open source software solutions to enterprise customers worldwide. It develops and offers operating system, virtualization, middleware, storage, and cloud technologies. The company’s products include Red Hat Enterprise Linux, an operating system for enterprise computing that runs on mainframes, servers, and work stations; Red Hat Enterprise Virtualization, which includes standalone virtualization functionality and management tools for server and desktop deployments; and Red Hat JBoss Middleware that offers middleware offerings for developing, deploying, and managing applications that are accessible through the Internet, enterprise Intranets, extranets, clouds, and virtu...

100 East Davie Street

Raleigh, NC 27601

United States

Founded in 1993

Phone:

919-754-3700

Key Executives for Red Hat, Inc.

Chief Executive Officer, President and Director
Age: 46
Total Annual Compensation: $800.0K
Chief Financial Officer and Executive Vice President
Age: 63
Total Annual Compensation: $480.0K
Interim Chief Technology Officer, Executive Vice President and President of Products & Technologies
Age: 57
Total Annual Compensation: $480.0K
Executive Vice President, General Counsel and Corporate Secretary
Age: 53
Total Annual Compensation: $418.8K
Executive Vice President of Global Sales & Services
Age: 59
Total Annual Compensation: $465.0K
Compensation as of Fiscal Year 2014.

Red Hat, Inc. Key Developments

Red Hat, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended February 28, 2015; Provides Financial Guidance for the First Quarter and Full Year of Fiscal Year 2016

Red Hat, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended February 28, 2015. For the quarter, the company reported total subscription, training and services revenue of $463,942,000 against $400,397,000 a year ago. Income from operations was $67,608,000 against $59,300,000 a year ago. Income before provision for income taxes was $68,877,000 against $61,620,000 a year ago. Net income was $47,700,000 against $45,069,000 a year ago. Diluted net income per share was $0.26 against $0.24 a year ago. Net cash provided by operating activities was $217,384,000 against $184,682,000 a year ago. Purchase of other intangible assets was $2,212,000 against $4,769,000 a year ago. Purchase of property and equipment was $10,563,000 against $17,754,000 a year ago. Non-GAAP adjusted income before provision for income taxes was $116,338,000 against $99,430,000 a year ago. Basic and diluted non-GAAP adjusted net income was $80,584,000 against $75,153,000 a year ago. Diluted non-GAAP adjusted net income per share was $0.43 against $0.39 a year ago. Non-GAAP total subscription, training and services revenue on a constant currency basis was $487,953,000 against $400,397,000 a year ago. Non-GAAP adjusted operating income was $110,513,000 against $97,110,000 a year ago. For the year, the company reported total subscription, training and services revenue of $1,789,489,000 against $1,534,615,000 a year ago. Income from operations was $249,994,000 against $232,289,000 a year ago. Income before provision for income taxes was $255,498,000 against $239,548,000 a year ago. Net income was $180,201,000 against $178,292,000 a year ago. Diluted net income per share was $0.95 against $0.93 a year ago. Net cash provided by operating activities was $622,795,000 against $540,580,000 a year ago. Purchase of other intangible assets was $6,123,000 against $17,972,000 a year ago. Purchase of property and equipment was $45,648,000 against $79,587,000 a year ago. Non-GAAP adjusted income before provision for income taxes was $428,908,000 against $383,697,000 a year ago. Basic and diluted non-GAAP adjusted net income was $302,509,000 against $285,471,000 a year ago. Diluted non-GAAP adjusted net income per share was $1.60 against $1.49 a year ago. Non-GAAP total subscription, training and services revenue on a constant currency basis was $1,825,388,000 against $1,534,615,000 a year ago. Non-GAAP adjusted operating income was $416,112,000 against $376,438,000 a year ago. For the first quarter, keep in mind that the average euro rate a year ago, that's first quarter a year ago, was $1.38, and there were JPY 102 to a dollar, both weakening considerably. With that reminder, the company offer the following guidance. Revenue is estimated to grow approximately 20% in constant currencies to a range of $469 million to $474 million or 12% in U.S. dollars at the top of the range. Non-GAAP operating margin is expected to be approximately 22% as a result of the timing this year of major sales and marketing events globally. With other income of $2 million and a 29% tax rate, non-GAAP EPS is estimated to be around $0.41 a share, assuming approximately 186 million diluted shares. The company forecasting total revenue in the range of $1.99 billion to $2.02 billion. The estimated annual effective tax rate for this fiscal year 2016 remains at 29% for both GAAP and non-GAAP purposes. Assuming 29% tax rate and approximately 186 million diluted shares, one would estimate diluted non-GAAP EPS in the range of $1.79 to $1.82 per share. From a cash flow perspective, The company anticipates operating cash flow for the full year between $670 million to $690 million. Further, the company is forecasting CapEx of approximately $50 million, in line with fiscal '15.

Red Hat Unveils Unified Open Software Defined Storage Portfolio

Red Hat, Inc. announced worldwide availability of a unified open software-defined storage portfolio that brings together Red Hat Ceph Storage, formerly known as Inktank Ceph Enterprise, and Red Hat Gluster Storage, formerly known as Red Hat Storage Server. The unified Red Hat Storage portfolio helps enterprises manage their current and emerging data storage workloads using open source software and standard hardware. Both Red Hat Gluster Storage and Red Hat Ceph Storage are open source, scale-out software-defined storage solutions that run on commodity hardware and have durable, programmable architectures. However, each is well suited for different sets of enterprise workloads, bringing unique and compelling benefits to the enterprise customer. Validated to work with leading partner hardware and software solutions, the Red Hat Storage portfolio gives enterprise customers the confidence that their storage workloads are optimized for open, software-designed storage. Red Hat Gluster Storage is well suited for enterprise virtualization, analytics and enterprise sync and share workloads. Red Hat Ceph Storage is well suited for cloud infrastructure workloads, such as OpenStack. Both Red Hat Ceph Storage and Red Hat Gluster Storage address workloads for archival and rich media, providing customers with choice and ensuring the best fit for their specific storage requirements.

LeShop.ch Creates New Online Shopping Experience with OpenShift Enterprise by Red Hat

Red Hat announced that LeShop.ch has selected OpenShift Enterprise, Red Hat’s on-premise, private Platform-as-a-Service (PaaS), to deploy and manage its new online shopping application. With OpenShift Enterprise, LeShop.ch now has an efficient and scalable platform for developing, running, and operating its online supermarket. OpenShift Enterprise provides LeShop.ch with access to a cloud-based application platform, enhancing its ability to build the applications it needs and have them run in a hybrid cloud architecture, both in their own datacenter and the public cloud. It automates much of the provisioning and management of the application platform stack in a way that enables LeShop.ch’s IT operations team to more easily meet growing business demands for new application services. OpenShift Enterprise also provides an on-demand, elastic, scalable and fully configured application deployment and runtime environment for application developers, so that they can focus on building these new application services.

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