 |
Red Hat, Inc. : Stmt Operations
Stmt Operations | Stmt Operations GAAP | Balance Sheet
Sheet 1: Stmt Operations
| RED HAT, INC. |
| CONSOLIDATED STATEMENTS OF OPERATIONS |
| (Excludes amortization of goodwill and intangibles, stock based compensation, and merger and acquisition costs) |
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Three Months Ended |
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May 31, 2001 |
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May 31, 2000 |
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| Subscription and services revenue: |
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Subscription |
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|
|
|
$11,353,991 |
|
$9,768,364 |
|
Services: |
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|
|
|
|
|
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|
Network consulting |
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|
|
|
5,196,304 |
|
5,680,738 |
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Embedded development services |
|
|
|
|
4,697,325 |
|
4,241,916 |
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Open source services |
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|
|
|
4,355,933 |
|
2,018,418 |
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Total subscription and services revenue |
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|
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25,603,553 |
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21,709,436 |
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| Cost of subscription and services revenue: |
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Subscription |
|
|
|
|
|
3,125,563 |
|
3,749,793 |
|
Services |
|
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|
|
|
8,005,907 |
|
7,092,774 |
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Total cost of subscription and services revenue |
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|
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11,131,470 |
|
10,842,567 |
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| Gross profit on subscription and services revenue |
|
|
|
|
|
|
14,472,083 |
|
10,866,869 |
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|
|
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| Hardware resale, net |
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- |
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88,223 |
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| Operating expense: |
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Sales and marketing |
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10,683,600 |
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12,162,715 |
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Research and development |
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|
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4,296,781 |
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3,271,184 |
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General and administrative |
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3,370,706 |
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4,666,427 |
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Total operating expense |
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18,351,087 |
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20,100,326 |
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| Loss from operations |
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(3,879,004) |
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(9,145,234) |
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| Other interest income (expense), net |
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4,480,183 |
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5,481,691 |
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| Loss before income taxes |
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601,179 |
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(3,663,543) |
| Provision for income taxes |
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|
445 |
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64,414 |
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| Net loss |
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$600,734 |
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$(3,727,957) |
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| Net loss per common share: |
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Basic |
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$0.00 |
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($0.02) |
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Diluted |
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$0.00 |
|
($0.02) |
| Weighted average shares outstanding: |
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Basic |
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|
169,002,929 |
|
159,463,590 |
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Diluted |
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|
169,002,929 |
|
159,463,590 |
Sheet 2: Stmt Operations GAAP
| RED HAT, INC. |
| CONSOLIDATED STATEMENTS OF OPERATIONS |
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Three Months Ended |
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|
May 31, 2001 |
|
May 31, 2000 |
|
|
|
|
|
|
|
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| Subscription and services revenue: |
|
|
|
|
|
|
|
|
|
|
Subscription |
|
|
|
|
|
$11,353,991 |
|
$9,768,364 |
|
Services: |
|
|
|
|
|
|
|
|
|
|
Network consulting |
|
|
|
|
5,196,304 |
|
5,680,738 |
|
|
Embedded development services |
|
|
|
|
4,697,325 |
|
4,241,916 |
|
|
Open source services |
|
|
|
|
4,355,933 |
|
2,018,418 |
|
|
|
|
|
|
|
|
|
|
|
|
Total subscription and services revenue |
|
|
|
|
25,603,553 |
|
21,709,436 |
|
|
|
|
|
|
|
|
|
|
| Cost of subscription and services revenue: |
|
|
|
|
|
|
|
|
|
|
Subscription |
|
|
|
|
|
3,125,563 |
|
3,749,793 |
|
Services |
|
|
|
|
|
8,005,907 |
|
7,092,774 |
|
|
|
|
|
|
|
|
|
|
|
|
Total cost of subscription and services revenue |
|
|
|
|
11,131,470 |
|
10,842,567 |
|
|
|
|
|
|
|
|
|
|
| Gross profit on subscription and services revenue |
|
|
|
|
|
|
14,472,083 |
|
10,866,869 |
|
|
|
|
|
|
|
|
|
|
| Hardware resale, net |
|
|
|
|
|
|
- |
|
88,223 |
|
|
|
|
|
|
|
|
|
|
| Operating expense: |
|
|
|
|
|
|
|
|
|
|
Sales and marketing |
|
|
|
|
|
10,683,600 |
|
12,162,715 |
|
Research and development |
|
|
|
|
|
4,296,781 |
|
3,271,184 |
|
General and administrative |
|
|
|
|
|
3,370,706 |
|
4,666,427 |
|
Amortization of goodwill and intangibles |
|
|
|
|
|
20,766,614 |
|
6,709,392 |
|
Stock-based compensation |
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|
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|
3,675,854 |
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3,625,808 |
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Merger, acquisitions and other |
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3,718,041 |
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3,359,026 |
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Total operating expense |
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46,511,596 |
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33,794,552 |
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| Loss from operations |
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(32,039,513) |
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(22,839,460) |
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| Other interest income (expense), net |
|
|
|
|
|
|
4,480,183 |
|
5,481,691 |
|
|
|
|
|
|
|
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| Loss before income taxes |
|
|
|
|
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|
(27,559,330) |
|
(17,357,769) |
| Provision for income taxes |
|
|
|
|
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|
445 |
|
64,414 |
|
|
|
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|
|
|
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| Net loss |
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$(27,559,775) |
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$(17,422,183) |
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| Net loss per common share: |
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|
|
|
|
|
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Basic |
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($0.16) |
|
($0.11) |
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|
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Diluted |
|
|
($0.16) |
|
($0.11) |
| Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
169,002,929 |
|
159,463,590 |
|
|
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|
Diluted |
|
|
169,002,929 |
|
159,463,590 |
Sheet 3: Balance Sheet
| RED HAT, INC. |
| CONSOLIDATED BALANCE SHEETS |
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| ASSETS |
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May 31, 2001 |
|
February 28, 2001 |
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| Current assets: |
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Cash and cash equivalents |
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$72,459,166 |
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$85,212,830 |
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Investments in debt and equity securities |
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47,076,615 |
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62,911,634 |
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Accounts receivable, net |
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20,800,035 |
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25,203,635 |
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Subcontractor receivable |
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|
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|
74,408 |
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3,441,394 |
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Inventory |
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|
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|
1,357,792 |
|
739,960 |
|
Prepaid expenses and other current assets |
|
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|
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2,287,071 |
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2,171,721 |
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Total current assets |
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144,055,087 |
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179,681,174 |
| Property and equipment, net |
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15,776,131 |
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14,591,510 |
| Goodwill and intangibles, net |
|
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|
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|
130,871,143 |
|
147,396,649 |
| Investments in debt and equity securities |
|
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175,051,633 |
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154,556,684 |
| Other assets, net |
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5,364,746 |
|
9,025,138 |
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Total assets |
|
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$471,118,740 |
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$505,251,155 |
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| LIABILITIES AND STOCKHOLDERS' EQUITY |
| Current liabilities: |
|
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Accounts payable |
|
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$3,909,384 |
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$9,681,174 |
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Royalties payable |
|
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|
|
|
30,232 |
|
- |
|
Accrued expenses |
|
|
|
|
|
13,273,445 |
|
15,915,682 |
|
Deferred revenue |
|
|
|
|
|
12,638,837 |
|
12,150,549 |
|
Short term payable |
|
|
|
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|
- |
|
2,750,000 |
|
Current portion of capital lease obligations |
|
|
|
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|
265,388 |
|
193,895 |
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Total current liabilities |
|
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|
30,117,286 |
|
40,691,300 |
| Capital lease obligations |
|
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|
|
|
|
227,488 |
|
277,338 |
| Commitments and contingencies |
|
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|
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|
- |
|
- |
| Stockholders' equity: |
|
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|
|
|
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Noncontrolling interest in subsidiary |
|
|
|
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|
37,810 |
|
- |
|
Preferred stock |
|
|
|
|
|
- |
|
- |
| |
Common stock |
|
|
|
|
|
16,983 |
|
16,849 |
|
Additional paid-in capital |
|
|
|
|
|
627,414,567 |
|
643,712,385 |
|
Deferred compensation |
|
|
|
|
|
(15,438,815) |
|
(36,051,412) |
|
Accumulated deficit |
|
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|
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|
(171,148,542) |
|
(143,588,767) |
|
Accumulated other comprehensive income (loss) |
|
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|
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|
(108,037) |
|
193,462 |
|
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|
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|
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Total stockholders' equity |
|
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|
440,773,966 |
|
464,282,517 |
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|
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Total liabilities and stockholders' equity |
|
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|
$471,118,740 |
|
$505,251,155 |
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