The Power Of Participation At Red Hat Forum 2016

Red Hat just held their 6th Red Hat Forum here in Kuala Lumpur on the 6th of October 2016. The theme at Red Hat Forum 2016 was “Power of Participation“, building on Red Hat’s vision of enterprises transforming themselves and/or creating new innovations by participating in and collaborating on open source software.

At an exclusive media event, Chris Wright and Damien Wong from Red Hat, as well as Frederic Giron of Forrester, gave us an overview of what was covered during Red Hat Forum 2016. Check it out!

The Power Of Participation At Red Hat Forum 2016
Left to right : Frederic Giron (Forrester), Chris Wright (Red Hat) and Damien Wong (Red Hat)

 

The Red Hat Forum 2016 Media Briefing

Damien Wong, Vice President and General Manager of Red Hat ASEAN, kicked off the media briefing session with an overview of the Red Hat Forum, and the Red Hat Forum 2016 theme of the “Power of Participation“. He also announced the winners of the 2016 Red Hat Innovation Awards in the Asia Pacific region.

Next, Red Hat Vice President and Chief Technologist, Chris Wright, dove into how open source collaboration will help enterprises transform themselves to adapt to a fast, flexible future. A future where more services will be processed in the cloud, served on the Internet, and consumed on mobile devices.

Finally, Frederic Giron, Forrester Vice President and Research Director Serving CIOs, gave an overview of the Red Hat-commissioned ‘Open Source Drives Digital Innovation‘ survey of 450 CIOs in Asia Pacific.

 

Red Hat Q2 FY2017

Two weeks ago, Red Hat announced their financial results for the second quarter of the fiscal year 2017. Here are some key points :

Revenue : Total revenue for the quarter was $600 million, up 19% in U.S. dollars year-over-year, or 18% measured in constant currency.

Operating Income : GAAP operating income for the quarter was $82 million, up 7% year-over-year. After adjusting for non-cash share-based compensation expense, amortization of intangible assets, and transaction costs related to business combinations, non-GAAP operating income for the second quarter was $137 million, up 11% year-over-year.

Net Income : GAAP net income for the quarter was $59 million, or $0.32 per diluted share, compared with $51 million, or $0.28 per diluted share, in the year-ago quarter. After adjusting for non-cash share-based compensation expense, amortization of intangible assets, transaction costs related to business combinations, and non-cash interest expense related to the debt discount, non-GAAP net income for the quarter was $101 million, or $0.55 per diluted share, as compared to $88 million, or $0.47 per diluted share, in the year-ago quarter.

Cash : Operating cash flow was $97 million for the second quarter, a decrease of 21% on a year-over-year basis. Total cash, cash equivalents and investments as of August 31, 2016 was $2.0 billion after repurchasing approximately $127 million, or approximately 1.8 million shares, of common stock in the second quarter.

You can check out more details in the Red Hat Quarterly Fact Sheet for Q2 FY2017.

 

Red Hat Outlook Guidance

For the full FY2017 :

  • Revenue guidance is expected to be $2.415 billion to $2.435 billion in U.S. dollars.
  • GAAP operating margin is expected to be approximately 13.8% and non-GAAP operating margin is expected to be approximately 23.0%.
  • Fully-diluted GAAP earnings per share (EPS) is expected to be approximately $1.35 to $1.37 per share. Fully-diluted non-GAAP EPS is expected to be approximately $2.23 to $2.25 per share. Both GAAP and non-GAAP EPS assume a $1 million to $2 million per quarter forecast for other income. Both GAAP and non-GAAP EPS also assume an estimated annual effective tax rate of 27% before discrete tax items and 184 million fully-diluted shares outstanding.
  • Operating cash flow guidance range is expected to be approximately $800 million to $820 million.

For Q3 FY2017 :

  • Revenue guidance is $613 million to $623 million.
  • GAAP operating margin is expected to be approximately 13.4% and non-GAAP operating margin is expected to be approximately 23.3%.
  • Fully-diluted GAAP EPS is expected to be approximately $0.34 per share. Fully-diluted non-GAAP EPS is expected to be approximately $0.58 per share. Both GAAP and non-GAAP EPS assume a $1 million to $2 million forecast for other income. Both GAAP and non-GAAP EPS also assume an estimated annual effective tax rate of 27% before discrete tax items and 184 million fully-diluted shares outstanding.

 

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