Forbes ranks Red Hat as 26th Most Innovative Company in the World
RALEIGH, N.C.--(BUSINESS WIRE)--
Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source
solutions, today announced that it has once again been named to Forbes'
list of the "World's
Most Innovative Companies." Red Hat was ranked at 26 on the list,
which recognizes a total of 100 companies from around the world. It is
the third time Red Hat has been honored by Forbes.
The list of the World's Most Innovative Companies is compiled using
"...investors' ability to identify firms they expect to be innovative
now and in the future." Companies are ranked based on Forbes'
"Innovation Premium," which, according to the publication, "is
calculated first by projecting a company's income (cash flows, in this
case) from its existing businesses and looking at the net present value
(NPV) of those cash flows." Forbes compares this base value with
companies' current Enterprise Value (EV). Companies with an EV above the
base value have an innovation premium built into their stock price.
Supporting Quotes
Jim Whitehurst, president and CEO, Red Hat
"It's an honor to be named to Forbes' World's Most Innovative
Companies for the third time, especially as this year's list continues
to highlight the innovation powering companies across all industries,
not just technology. It is this same commitment to innovation that
drives Red Hat and has been key to the success of both our open source
products and our business at-large, proving the continued adaptability
and viability of our model in the ever-changing business world."
Additional Resources
Connect with Red Hat
About Red Hat, Inc.
Red Hat is the world's leading provider of open source software
solutions, using a community-powered approach to reliable and
high-performing cloud, Linux, middleware, storage and virtualization
technologies. Red Hat also offers award-winning support, training, and
consulting services. As a connective hub in a global network of
enterprises, partners, and open source communities, Red Hat helps create
relevant, innovative technologies that liberate resources for growth and
prepare customers for the future of IT. Learn more at http://www.redhat.com.
Forward-Looking Statements
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 the ability of
the Company to compete effectively; the ability to deliver and stimulate
demand for new products and technological innovations on a timely basis;
delays or reductions in information technology spending; the effects of
industry consolidation; the integration of acquisitions and the ability
to market successfully acquired technologies and products; uncertainty
and adverse results in litigation and related settlements; 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; 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; and changes in and a dependence on key personnel, as
well as other factors contained in our most recent Quarterly Report on
Form 10-Q (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 and political conditions,
governmental and public policy changes and the impact of natural
disasters such as earthquakes and floods. 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 this press release.
Red Hat and Red Hat Enterprise Linux are trademarks of Red Hat, Inc.,
registered in the U.S. and other countries. Linux® is the
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Red Hat
Emily Stancil Martinez, 919-301-3010
emartinez@redhat.com
Source: Red Hat, Inc.
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