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  • whsteffanmsn@att.net whsteffanmsn Dec 19, 2011 5:30 PM Flag

    HAR HAR HAR 'SUX tanks again

    http://www.bizjournals.com/triangle/news/2011/12/19/red-hat-stock-drops-despite-earnings.html?ana=yfcpc


    estimates
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    Triangle Business Journal by Chris Baysden, Web Editor
    Date: Monday, December 19, 2011, 4:49pm EST..

    Related:
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    Jim Whitehurst is the CEO at Red Hat.
    . .
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    Related News
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    .
    Chris BaysdenWeb Editor - Triangle Business JournalEmail
    The stock of Raleigh-based software company Red Hat .. dropped about 10 percent Monday in after-hours trading even though the company reported earnings that beat analysts’ estimates.

    Red Hat reported net income of $38.2 million, an increase of 47 percent compared to the same period a year ago.

    Diluted earnings per share were at 19 cents, up from 13 cents in the 2011 third quarter. Analysts polled by Thomson Financial had projected EPS of 26 cents.

    Total revenue clocked in at $290 million – up from nearly $236 million in the 2010 third quarter.

    As of 4:32 p.m., the company’s stock had dropped 10 percent to $41.50.

    “It’s conceivable that the very narrow top-line beat disappointed investors accustomed to a larger upside surprise,” Barron’s wrote.

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