Thursday, March 26, 2015

Red Hat (RHT) Reports Solid 4Q'15 Results

Red Hat (RHT) reported 4Q'15 results after the market closed yesterday (02015.03.25) and they were good. I liked the following two items: "Operating cash flow totaled $217 million for the fourth quarter and $623 million for the full year. Cash and investments at February 28, 2015 totaled $1.81 billion."
"Our strong fourth quarter marked the 52nd consecutive quarter of revenue growth and we exited the fiscal year with a record total backlog over $1.86 billion, up 19% year-over-year,” stated Charlie Peters, Executive Vice President and Chief Financial Officer of Red Hat.

I also liked the following: "Red Hat Announces $500 Million Stock Repurchase Program".

“Over the past four fiscal years, we have repurchased over $1 billion or approximately 19.5 million shares of Red Hat common stock,” stated Charlie Peters, Executive Vice President and Chief Financial Officer of Red Hat. “Given our strong conviction about our long-term growth prospects, a healthy balance sheet and the ability to generate operating cash flow, the Red Hat management team and Board of Directors believe that a new repurchase program will create further value for our shareholders.”

RHT closed yesterday (02015.03.25) at $68.45. 52-week range: $47.45 - $71.77.

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