Red Hat Inc. (RHT, Financial) filed Amended Quarterly Report for the period ended 2010-05-31.
Red Hat Inc. has a market cap of $5.95 billion; its shares were traded at around $31.41 with a P/E ratio of 60.6 and P/S ratio of 8. Red Hat Inc. had an annual average earning growth of 22.7% over the past 5 years.RHT is in the portfolios of Columbia Wanger of Columbia Wanger Asset Management, Steven Cohen of SAC Capital Advisors, Steven Cohen of SAC Capital Advisors, Paul Tudor Jones of The Tudor Group, Bruce Kovner of Caxton Associates, Jeremy Grantham of GMO LLC, Jeremy Grantham of GMO LLC.
Deferred Revenue. Our deferred revenue, current and long-term, balance at May 31, 2010 was $625.6 million. Because of our subscription model and revenue recognition policies, deferred revenue improves predictability of future revenue. Deferred revenue at May 31, 2010 decreased $20.2 million or 3.1% as compared to the balance at February 28, 2010 of $645.9 million. The decrease was driven primarily by changes in foreign currency exchange rates, which accounted for $19.2 million of the decrease. The remaining decrease of $1.0 million results from shift in mix in which a number of our largest deals included an initial consulting component resulting in lower-upfront invoicing.
Cash, cash equivalents, investments in debt and equity securities and cash flow from operations. Cash, cash equivalents and short-term and long-term available-for-sale investments in securities balances at May 31, 2010 totaled $967.8 million. During the three months ended May 31, 2010, we repurchased $74.4 million of our
common stock, which was partially offset by employees exercise of stock options which generated $37.7 million of cash proceeds. Cash generated from operating activities for the three months ended May 31, 2010 totaled $60.6 million, primarily as a result of the increase in subscription revenue and billings during the same period. Our significant cash balance gives us a measure of flexibility to take advantage of opportunities such as acquisitions, increasing investment in international areas and repurchasing our own common stock.
these deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. As of May 31, 2010, the net deferred tax asset balance was $72.3 million, of which $6.2 million was offset by a valuation allowance. We continue to maintain a valuation allowance against our deferred tax assets with respect to certain foreign net operating loss (NOL) carryforwards.
Subscription revenue, which is primarily comprised of direct and indirect sales of Red Hat enterprise technologies, increased by 20.4% or $30.3 million to $179.1 million for the three months ended May 31, 2010 from $148.8 million for the thre
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Red Hat Inc. has a market cap of $5.95 billion; its shares were traded at around $31.41 with a P/E ratio of 60.6 and P/S ratio of 8. Red Hat Inc. had an annual average earning growth of 22.7% over the past 5 years.RHT is in the portfolios of Columbia Wanger of Columbia Wanger Asset Management, Steven Cohen of SAC Capital Advisors, Steven Cohen of SAC Capital Advisors, Paul Tudor Jones of The Tudor Group, Bruce Kovner of Caxton Associates, Jeremy Grantham of GMO LLC, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
Revenue. For the three months ended May 31, 2010 total revenue increased 19.9% or $34.8 million to $209.1 million from $174.4 million for the three months ended May 31, 2009. Subscription revenue increased 20.4% or $30.3 million, driven primarily by additional subscriptions related to our principal RHEL technologies, which continue to gain broader market acceptance in mission-critical areas of computing, and our international expansion. The increase is, in part, a result of the continued migration of enterprises in industries such as telecommunications, government and financial services to our open source platform from a proprietary Unix platform. Training and services revenue increased 17.5% or $4.5 million for the three months ended May 31, 2010 as compared to the same period ended May 31, 2009. The increase is driven primarily by an improving economic environment in which enterprises are increasing discretionary spending in areas such as IT training and consulting.Deferred Revenue. Our deferred revenue, current and long-term, balance at May 31, 2010 was $625.6 million. Because of our subscription model and revenue recognition policies, deferred revenue improves predictability of future revenue. Deferred revenue at May 31, 2010 decreased $20.2 million or 3.1% as compared to the balance at February 28, 2010 of $645.9 million. The decrease was driven primarily by changes in foreign currency exchange rates, which accounted for $19.2 million of the decrease. The remaining decrease of $1.0 million results from shift in mix in which a number of our largest deals included an initial consulting component resulting in lower-upfront invoicing.
Cash, cash equivalents, investments in debt and equity securities and cash flow from operations. Cash, cash equivalents and short-term and long-term available-for-sale investments in securities balances at May 31, 2010 totaled $967.8 million. During the three months ended May 31, 2010, we repurchased $74.4 million of our
common stock, which was partially offset by employees exercise of stock options which generated $37.7 million of cash proceeds. Cash generated from operating activities for the three months ended May 31, 2010 totaled $60.6 million, primarily as a result of the increase in subscription revenue and billings during the same period. Our significant cash balance gives us a measure of flexibility to take advantage of opportunities such as acquisitions, increasing investment in international areas and repurchasing our own common stock.
these deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. As of May 31, 2010, the net deferred tax asset balance was $72.3 million, of which $6.2 million was offset by a valuation allowance. We continue to maintain a valuation allowance against our deferred tax assets with respect to certain foreign net operating loss (NOL) carryforwards.
Subscription revenue, which is primarily comprised of direct and indirect sales of Red Hat enterprise technologies, increased by 20.4% or $30.3 million to $179.1 million for the three months ended May 31, 2010 from $148.8 million for the thre
Read the The complete Report
