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Primeur monthly 2011-05-

Industry

Cisco announces intent to acquire newScale ...

GigaSpaces announces new product for enterprise PaaS & ISV SaaS enablement ...

HP accelerates channel partner Cloud opportunities ...

Coca-Cola FEMSA signs $100 million technology services agreement with HP to support growth ...

HP defines go-to-market strategy for Connected World at Americas Partners Conference ...

HP opens new research facility to advance sustainable data centre technologies ...

U.S. Special Operations Command selects HP for worldwide data centre services ...

IBM launches Power Development Lab in Taiwan ...

IBM Watson goes to school to engage next generation of innovators ...

Cameroon Ministry of Finance selects IBM mainframe system ...

Microsoft survey reveals 39 percent of SMEs to pay for Cloud services within three years ...

Platform Computing Announces Support for MapReduce ...

Red Hat reports fourth quarter and fiscal year 2011 results ...

Antarctic icebergs play a key role in the carbon cycle ...

SDSC's CIPRES Gateway provides window to the past - and fast ...

SGI Channel Network Programme receives CRN's Five-Star Partner rating designation for second year in a row ...

Researchers in Taiwan to use volunteer computing to visualise earthquakes ...

University of Westminster launches new DIY supercomputer saving hundreds of thousands of pounds ...

Ian Foster to receive IEEE Computer Society's Tsutomu Kanai Award ...

Digital infrastructure, Cloud computing transforming fragmented manufacturing industry value chain, according to Microsoft study ...

Presentations from the 27th ORAP Forum now available ...

University of Texas at Austin dedicates Lonestar 4 supercomputer for open science community ...

UK Atomic Weapons Establishment accelerates engineering efforts with SGI Altix UV ...

SGI offers free technical computing Cloud services in Japan to help customers in affected areas ...

Hewlett-Packard/American Chemical Society Award given for computational chemistry ...

Yale purchases world-class supercomputer ...

Calculations with 14 quantum bits ...

Cycle Computing creates a 10,000 core cluster in the Cloud ...

Breakthrough study confirms cause of short gamma-ray bursts ...

OSU chemist developing solution to nerve agent exposure ...

University of Minnesota Supercomputing Institute expands resources with addition of new supercomputer ...

Cray CX1000 supercomputer to feature the new Intel Xeon processor E7 family ...

Xerox chooses bullion to virtualize its critical business applications ...

IBM's MRSA infection-fighting nanotechnology caps century of health care innovation ...

Version 3.1 of BOINC LCS now available ...

TThrottle version 3.41 has been released ...

Dell invests $1 billion in technology solutions and services to help customers drive business results today and in the future ...

"Lonestar 4" supercomputer deployed for science community ...

SDSC to open large-scale data systems research centre ...

PRACE Research Infrastructure grants 400 million compute hours on Tier-0 systems to seventeen European research projects ...

Industry leaders worldwide embrace IBM Clouds to transform business processes ...

IBM joins forces with over 45 organisations to launch Cloud Standards Customer Council for Open Cloud Computing ...

Bird Hosting expands Cloud service offerings powered by CA 3Tera AppLogic software and signs multi-year license agreement ...

Elsevier special issue on "Models and Algorithms for High-Performance Distributed Data Mining" to issue Call for Papers ...

IBM sets performance records with new eX5 servers ...

CA Technologies acquires IT consulting firm, Base Technologies ...

EMC helps Blue Diamond Solutions deliver Cloud based back-up ...

SAS to offer high-performance analytics on EMC Greenplum database appliance ...

IBM unveils next generation SmartCloud platform for business ...

SAS High-Performance Analytics on Teradata appliance extends analytic innovation to customers ...

Microsoft and Toyota announce strategic partnership on next-generation telematics ...

IBM unveils smart Cloud services and technologies for the enterprise ...

Latest CA Workload Automation release enables dynamic service and application automation across physical, virtual and Cloud infrastructures ...

Dell ups the performance bar on Powerhouse servers for mission critical workloads and applications ...

Electric Yellowstone - Conductivity image hints volcano plume is bigger than thought ...

Savtira Corporation selects Emerson Network Power for data centre infrastructure solution ...

New IBM software helps clients accelerate adoption and realize the benefits of Cloud computing ...

Intel Xeon processor E7 family delivers record-breaking performance, new security, reliability and energy efficiency features ...

PSSC Labs to showcase bionformatics supercomputer and other life science compute & storage solutions at BIO IT World ...

SAS OnDemand for Academics to be available at no cost for research ...

Altair Engineering announces the release of MindManager through the HyperWorks Partner Alliance ...

Joint European DCI Summer School to issue Call for Participation ...

EDGI demonstrates how to submit 10,000 jobs to a Volunteer Desktop Grid from within the European Grid Infrastructure ...

Blood vessel simulation probes secrets of brain ...

International research on controlled nuclear fusion: Bull is selected to provide the supercomputer to be installed in Rokkasho, Japan ...

EGI Technical Forum 2011 to be held in September in Lyon ...

Bull TrustWay Hardware Security Module now integrates with Oracle Advanced Security for Oracle Database 11g ...

4th IEEE International Conference on Utility and Cloud Computing to issue Call for Papers ...

EMC Isilon delivers breakthrough performance for big data ...

IBM teams with Akamai to accelerate applications across the web, and from the Cloud to the enterprise ...

IBM offers new opportunities to jump start Cloud computing for business partners and start-ups ...

IBM to deliver new optimized POWER7 products, inspired by Watson technology ...

Tate & Lyle Sugar's refining operations step into the Cloud with Virtustream and IBM ...

IBM and Sybase harness POWER7 for new mCommerce Appliance ...

Networking

HP helps VIVACOM integrate fixed and mobile networks for better services ...

Europe

e-IRG welcomes public comment on the e-IRG White Paper 2011 ...

Red Hat reports fourth quarter and fiscal year 2011 results

23 Mar 2011 Raleigh - Red Hat Inc., a provider of open source solutions, has announced financial results for its fiscal fourth quarter and fiscal year ended February 28, 2011. Total revenue for the quarter was $244.8 million, an increase of 25% from the year ago quarter. Subscription revenue for the quarter was $209.3 million, up 24% year-over-year. For the full year, total revenue was $909.3 million, an increase of 22% over the prior year, and subscription revenue was $773.4 million, up 21% year-over-year.

"With record bookings and billings in the fourth quarter, we are on a run rate to become the first pure-play open source company to achieve a billion dollars in revenues next fiscal year, a milestone achievement for Red Hat and the open source community", stated Jim Whitehurst, President and Chief Executive Officer of Red Hat. "We believe the strong demand we experienced was largely driven by customers who are modernizing their data centres and preparing their infrastructure for Cloud computing. The comprehensive portfolio that Red Hat has developed with platform, virtualization and middleware products provides enterprise customers with a foundation to deploy the next generation infrastructure."

GAAP operating income for the fourth quarter and the full fiscal year 2011 was $39.4 million and $145.7 million, respectively. GAAP operating margin was 16.1% in the fourth quarter and 16.0% for the full year. After adjusting for stock compensation, amortization expenses, and in the prior year, the charge for a litigation settlement as detailed in the tables below, non-GAAP operating income for the quarter was $61.0 million, or a 24.9% operating margin, and full year non-GAAP operating income was $225.2 million. Full year non-GAAP operating margin was 24.8%, representing an increase of 110 basis points from the prior year.

GAAP net income for the fourth quarter was $33.5 million, or $0.17 per diluted share, compared with $26.0 million, or $0.13 per diluted share, for the prior quarter and $23.4 million, or $0.12 per diluted share, in the year ago quarter. Non-GAAP adjusted net income for the fourth quarter was $51.4 million, or $0.26 per diluted share, after adjusting for stock compensation and amortization expenses. This compares to non-GAAP adjusted net income of $39.1 million, or $0.20 per diluted share in the prior quarter and $36.5 million, or $0.19 per diluted share in the year ago quarter.

For the full year, GAAP net income was $107.3 million or $0.55 per diluted share, compared with $87.3 million or $0.45 per diluted share in the prior year. After adjusting for stock compensation, amortization expenses, and in the prior year, the charge for a litigation settlement, non-GAAP adjusted net income for the year was $162.8 million or $0.83 per diluted share, compared to $138.1 million and $0.71 per diluted share for the fiscal year ended February 28, 2010.

Fourth quarter GAAP and non-GAAP net income benefited by approximately $0.02/share as a result of the retroactive re-enactment in December 2010, of the research tax credit into US tax law. This, together with other tax benefits, including additional US foreign tax credits, reduced the fourth quarter fiscal 2011 effective tax rate for both GAAP and non-GAAP to 17%. The resulting full year effective tax rate for both GAAP and non-GAAP for fiscal 2011 is 30%.

GAAP operating cash flow totaled $95.0 million for the fourth quarter and $290.7 million for the full year. At year end, the company's total deferred revenue balance was $772.3 million, an increase of 20% on a year-over-year basis and 13% sequentially. Cash and investments at February 28, 2011 totaled $1.2 billion after repurchasing approximately $11 million, or approximately 250,000 shares, of common stock in the quarter. For the full fiscal year, Red Hat repurchased approximately $90 million, or 2.9 million shares, of common stock.

"Our fourth quarter results were strong and capped off a year of accelerated billings growth. Broad-based, global demand for our products and services, coupled with strong execution by our associates, resulted in over 30% year-over-year growth in billings this quarter; our fastest billings growth in 12 quarters", stated Charlie Peters, Executive Vice President and Chief Financial Officer of Red Hat. "This year we focused on growth with aggressive hiring for sales and engineering, launched major product releases and invested in technologies focused on Cloud computing. These investments produced greater than 20% growth in revenues and non-GAAP operating income for both the quarter and the year. At the same time, we increased non-GAAP operating margins by 110 basis points and improved cash flow. It was a good year."
Source: Red Hat

Back to Table of contents

Primeur monthly 2011-05-

Industry

Cisco announces intent to acquire newScale ...

GigaSpaces announces new product for enterprise PaaS & ISV SaaS enablement ...

HP accelerates channel partner Cloud opportunities ...

Coca-Cola FEMSA signs $100 million technology services agreement with HP to support growth ...

HP defines go-to-market strategy for Connected World at Americas Partners Conference ...

HP opens new research facility to advance sustainable data centre technologies ...

U.S. Special Operations Command selects HP for worldwide data centre services ...

IBM launches Power Development Lab in Taiwan ...

IBM Watson goes to school to engage next generation of innovators ...

Cameroon Ministry of Finance selects IBM mainframe system ...

Microsoft survey reveals 39 percent of SMEs to pay for Cloud services within three years ...

Platform Computing Announces Support for MapReduce ...

Red Hat reports fourth quarter and fiscal year 2011 results ...

Antarctic icebergs play a key role in the carbon cycle ...

SDSC's CIPRES Gateway provides window to the past - and fast ...

SGI Channel Network Programme receives CRN's Five-Star Partner rating designation for second year in a row ...

Researchers in Taiwan to use volunteer computing to visualise earthquakes ...

University of Westminster launches new DIY supercomputer saving hundreds of thousands of pounds ...

Ian Foster to receive IEEE Computer Society's Tsutomu Kanai Award ...

Digital infrastructure, Cloud computing transforming fragmented manufacturing industry value chain, according to Microsoft study ...

Presentations from the 27th ORAP Forum now available ...

University of Texas at Austin dedicates Lonestar 4 supercomputer for open science community ...

UK Atomic Weapons Establishment accelerates engineering efforts with SGI Altix UV ...

SGI offers free technical computing Cloud services in Japan to help customers in affected areas ...

Hewlett-Packard/American Chemical Society Award given for computational chemistry ...

Yale purchases world-class supercomputer ...

Calculations with 14 quantum bits ...

Cycle Computing creates a 10,000 core cluster in the Cloud ...

Breakthrough study confirms cause of short gamma-ray bursts ...

OSU chemist developing solution to nerve agent exposure ...

University of Minnesota Supercomputing Institute expands resources with addition of new supercomputer ...

Cray CX1000 supercomputer to feature the new Intel Xeon processor E7 family ...

Xerox chooses bullion to virtualize its critical business applications ...

IBM's MRSA infection-fighting nanotechnology caps century of health care innovation ...

Version 3.1 of BOINC LCS now available ...

TThrottle version 3.41 has been released ...

Dell invests $1 billion in technology solutions and services to help customers drive business results today and in the future ...

"Lonestar 4" supercomputer deployed for science community ...

SDSC to open large-scale data systems research centre ...

PRACE Research Infrastructure grants 400 million compute hours on Tier-0 systems to seventeen European research projects ...

Industry leaders worldwide embrace IBM Clouds to transform business processes ...

IBM joins forces with over 45 organisations to launch Cloud Standards Customer Council for Open Cloud Computing ...

Bird Hosting expands Cloud service offerings powered by CA 3Tera AppLogic software and signs multi-year license agreement ...

Elsevier special issue on "Models and Algorithms for High-Performance Distributed Data Mining" to issue Call for Papers ...

IBM sets performance records with new eX5 servers ...

CA Technologies acquires IT consulting firm, Base Technologies ...

EMC helps Blue Diamond Solutions deliver Cloud based back-up ...

SAS to offer high-performance analytics on EMC Greenplum database appliance ...

IBM unveils next generation SmartCloud platform for business ...

SAS High-Performance Analytics on Teradata appliance extends analytic innovation to customers ...

Microsoft and Toyota announce strategic partnership on next-generation telematics ...

IBM unveils smart Cloud services and technologies for the enterprise ...

Latest CA Workload Automation release enables dynamic service and application automation across physical, virtual and Cloud infrastructures ...

Dell ups the performance bar on Powerhouse servers for mission critical workloads and applications ...

Electric Yellowstone - Conductivity image hints volcano plume is bigger than thought ...

Savtira Corporation selects Emerson Network Power for data centre infrastructure solution ...

New IBM software helps clients accelerate adoption and realize the benefits of Cloud computing ...

Intel Xeon processor E7 family delivers record-breaking performance, new security, reliability and energy efficiency features ...

PSSC Labs to showcase bionformatics supercomputer and other life science compute & storage solutions at BIO IT World ...

SAS OnDemand for Academics to be available at no cost for research ...

Altair Engineering announces the release of MindManager through the HyperWorks Partner Alliance ...

Joint European DCI Summer School to issue Call for Participation ...

EDGI demonstrates how to submit 10,000 jobs to a Volunteer Desktop Grid from within the European Grid Infrastructure ...

Blood vessel simulation probes secrets of brain ...

International research on controlled nuclear fusion: Bull is selected to provide the supercomputer to be installed in Rokkasho, Japan ...

EGI Technical Forum 2011 to be held in September in Lyon ...

Bull TrustWay Hardware Security Module now integrates with Oracle Advanced Security for Oracle Database 11g ...

4th IEEE International Conference on Utility and Cloud Computing to issue Call for Papers ...

EMC Isilon delivers breakthrough performance for big data ...

IBM teams with Akamai to accelerate applications across the web, and from the Cloud to the enterprise ...

IBM offers new opportunities to jump start Cloud computing for business partners and start-ups ...

IBM to deliver new optimized POWER7 products, inspired by Watson technology ...

Tate & Lyle Sugar's refining operations step into the Cloud with Virtustream and IBM ...

IBM and Sybase harness POWER7 for new mCommerce Appliance ...

Networking

HP helps VIVACOM integrate fixed and mobile networks for better services ...

Europe

e-IRG welcomes public comment on the e-IRG White Paper 2011 ...