RALEIGH, N.C - —
Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced it has been named to the Bloomberg BusinessWeek 50. In its fourteenth year, this list recognizes the 50 companies in the Standard and Poor's 500 stock index with the best total returns for shareholders over the last five years as of March 31, 2010. Red Hat ranked 22nd on this list of top-performing companies.
Selected by Standard and Poor's for inclusion in the S&P 500 in July 2009, Red Hat has delivered consistently strong results. The company's success and strong execution demonstrate that open source continues to be a key strategy for enterprises looking to implement strategic IT architectures.
"Red Hat has thrived throughout the global recession, posting double-digit growth in revenue, profitability and employment for the past twenty four months," said Jim Whitehurst, president and CEO. "The opportunity for Red Hat continues to look promising as enterprises integrate technologies, including virtualization and cloud computing, to improve performance and functionality while holding down costs."
To create the ranking, Bloomberg BusinessWeek calculated what an investment of $10,000 made on March 31, 2005 would be worth five years later. Using Bloomberg data, five-year total returns (with dividends reinvested in the security) were calculated and multiplied by the initial investment. Red Hat's five-year return was calculated at 168.3 percent. Of the 50 companies on the list, only 16 percent were technology companies.
To read the full Bloomberg BusinessWeek 50 report and profiles, please visit here.
For more information about Red Hat, visit www.redhat.com. For more news, more often, visit www.press.redhat.com.
About Red Hat, Inc.
Red Hat, the world's leading provider of open source solutions and an S&P 500 company, is headquartered in Raleigh, NC with over 65 offices spanning the globe. CIOs ranked Red Hat as one of the top vendors delivering value in Enterprise Software for six consecutive years in the CIO Insight Magazine Vendor Value survey. Red Hat provides high-quality, affordable technology with its operating system platform, Red Hat Enterprise Linux, together with virtualization, applications, management and Services Oriented Architecture (SOA) solutions, including Red Hat Enterprise Virtualization and JBoss Enterprise Middleware. Red Hat also offers support, training and consulting services to its customers worldwide. Learn more: http://www.redhat.com.
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to delays or reductions in information technology spending, the integration of acquisitions and the ability to market successfully acquired technologies and products; the ability of the Company to effectively compete; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; fluctuations in exchange rates; uncertainty and adverse results in litigation and related settlements, and changes in and a dependence on key personnel, as well as other factors contained in our most recent Annual Report on Form 10-K (copies of which may be accessed through the Securities and Exchange Commission's website at http://www.sec.gov),including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
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