Red Hat: More Turnover and Profit Thanks to Linux
Linux distributor Red Hat has reported increased turnover and profits in its interim report for the second quarter. The company mainly owes these promising figures to its Linux business.
The second quarter 2008 ended August 31, 2007 for Red Hat, whose business year ends February 29, 2008. Red Hat reported a turnover of US$ 127.3 in the second quarter, which is equivalent to a 28 percent increase compared to last year's figures, and seven percent up on the first quarter of 2008. Red Hat mainly owes its success to sales of software subscriptions of its enterprise Linux variant. Turnover of Red Hat Enterprise Linux totaled US$ 109.2 m, which is 29 percent up on the previous year's figures of US$ 84.9 m, and six percent up on the previous quarter. Net profits rose by 64 percent to US$ 18.2 m, compared with US$ 11 m in 2006. On a per share basis this means a dividend of US$ 0.09 compared with US$ 0.05 last year. Red Hat points to the more than 3000 applications that are now certified on the Red Hat platform.
Charlie Peters, Red Hat's Chief Financial Officer was also pleased with the development of operative profits and cash flow. "We continue to deliver strong operating profitability and cash flow". Peters sees the demand for Open Source solutions continuing to grow, and sees the need to invest in infrastructure in the interest of Red Hat's shareholders.
Parallel to the interim report, Peters had two personnel announcements to make. The previous head of the Red Hat Financial Division, Mark Cook, is being promoted to Vice President Finance and Controller; Paul Argiry will be taking over the position as Vice President and Treasurer. Cook joined Red Hat in 2004; Argiry's last position was as the Chief Financial Officer with Californian electronics corp., Jabil Circuit.
This is the third change to Red Hat's executive team in just a few days, with marketing boss Tim Yeaton having been replaced by Michael Chen. At the beginning of the week, Red Hat's shares had been downgraded from "outperforming" to "neutral" due to organizational and structural issues that started with the acquisition of middleware vendor Jboss.
Issue 210/2018
Buy this issue as a PDF
News
-
Red Hat Enterprise Linux 7.5 Released
The latest release is focused on hybrid cloud.
-
Microsoft Releases a Linux-Based OS
The company is building a new IoT environment powered by Linux.
-
Solomon Hykes Leaves Docker
In a surprise move, Solomon Hykes, the creator of Docker has left the company.
-
Red Hat Celebrates 25th Anniversary with a New Code Portal
The company announces a GitHub page with links to source code for all its projects
-
Gnome 3.28 Released
The latest GNOME rolls out with better contact management and new features for handling virtual machines.
-
Install Firefox in a Snap on Linux
Mozilla has picked the Snap package system to deliver its application to Linux users.
-
OpenStack Queens Released
The new release comes with new features for mission critical workloads.
-
Kali Linux Comes to Windows
The Kali Linux developers even managed to run full blown XFCE desktop via WSL.
-
Ubuntu to Start Collecting Some Data with Ubuntu 18.04
It will be an ‘opt-out’ feature.
-
CNCF Illuminates Serverless Vision
The Cloud Native Computing Foundation announces a paper describing their model for a serverless ecosystem.