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Apps & Software

Red Hat Sails Above Estimates (RHT)

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By Jon C. Ogg Updated Published
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Red Hat, Inc. (NYSE: RHT) has just announced a 21% gain in sales to $297 million for its fourth quarter and its non-GAAP earnings came to a gain of 12% to $0.29 in earnings per share.  Thomson Reuters had targets of $291.2 million and $0.27 EPS, so it beat estimates on both counts.

Fourth quarter operating cash flow was up 35% to $128 million; Subscription revenue for the quarter was up 22% to $255.2 million.  The company ended with more than $814 million in cash, cash equivalents, and short term investments.

Be advised that guidance was not offered up in the press release, so consider this as being unfinished business or incomplete data until guidance is offered up.  The stock trades at well over 40-times expected Feb-2013 earnings estimates.

Shares closed down 1% at $51.32 but the after-hours reaction has shares trading up 5% at $53.93 after the news.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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