Wednesday, June 20, 2012

Red Hat Reports 1Q'13 Results

Red Hat (RHT) reported 1Q'13 results after the market closed on 02012.06.20. The following was copied from my Yahoo! Finance screen prior to me looking at the 1Q'13 results.
$56.50 Down $0.42 (down 0.74%) 4:00PM EDT
After Hours: $50.00 Down $6.50 (down 11.50%) 4:31PM EDT

Needless to say, without looking at the 1Q'13 results, it appears as though Red Hat did not exceed exceeded expectations.

My observations about 1Q'13 results...

"Operating cash flow was $124.4 million for the first quarter, as compared to $90.2 million in the year ago quarter."

"Total cash, cash equivalents and investments as of May 31, 2012 was $1.3 billion after repurchasing approximately $30 million, or approximately 550,000 shares, of common stock in the first quarter."

Red Hat believes FY 02013 has gotten off to a good start and I agree.

RHT closed today (02012.06.20) at $56.60. 52-week range: $31.77 - $62.75.

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