2011年9月22日 星期四

Red Hat's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Various remarks that we may make about the company's future expectations, plans and prospects, including the statements containing the words believe, anticipate, plan, project, estimate, expect, intend or will, constitute forward-looking statements for the purposes of the safe harbors provision under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the company's most recent annual report on Form 10-Q filed with the SEC as well as the safe harbor statement in today's press release.

In addition, any forward-looking statements represent our estimates or views only as of today, September 21, 2011, and these estimates and views may change. While the company may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so even if our estimates or views do change. And therefore, you should not rely on these forward-looking statements as representing our estimates or views at any day subsequent to today.A custom-made Cable Ties is then fixed over the gums.

Thank you, Tom, and let me add my welcome to all of you joining us on today's call.who was responsible for tracking down Charles China ceramic tile .Polycore hydraulic hose are manufactured as a single sheet, Red Hat Associates around the globe executed extremely well and delivered outstanding results. While the macroeconomic environment remained volatile, we continue to experience broad demand for our open source solutions in every major geography during the second quarter.he led PayPal to open its platform to Wholesale pet supplies developers. We drove significant upselling within our top deals and we added a number of large wins from customers who migrated away from proprietary products and other Linux distributions. Customers are increasingly turning to Red Hat as they look to modernize their data center infrastructure and fundamentally change the way they deliver IT services.

Let me review some of the highlights for our second quarter, which combined with strong demand heading into the second half of this year, provides us with confidence to again raise our full year growth outlook, as Charlie will explain later.Initially the banks didn't want our chicken coop .

First, sales execution was once again strong in Q2 and we delivered accelerating year-over-year organic revenue growth for the fourth consecutive quarter. Our 27% revenue growth to the first half of this year had significantly outpaced last year's 20% first half growth, given our investments in sales and marketing and R&D are clearly paying off.

Second, even with this focused investment for growth, we continue to deliver leverage, which enabled our operating income to significantly outpace revenue. Our operating income is up 41% in Q2 and up 35% in the first half of this year.

Third, we continue to drive strong cash flow growth with operating cash flow up 20% for the quarter and 34% for the first half of the year. I'm also pleased to report that all of our top 25 deals that were up for renewal in the second quarter, not only renewed, but they did sell at a total value of over 150% of the original value. This was our strongest upsell percentage since we started tracking this metric, which is usually in the 120% to 130% range. Customers across a variety of segments and geographies contributed to this record.

The value and innovation that customers receive from a Red Hat subscription is a key demand driver for us in both good times and in challenging ones. For instance, this quarter, one of our largest renewals and upsell came from a technology firm that has been a staunch proponent of UNIX for several decades. Given the value, performance and capabilities of RHEL, they have now -- have a substantial deployment in their internal infrastructure.

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