Red Hat Soars To 29th Place On Fortune's Fast Growing '100' List
Posted September 22, 2006
RALEIGH, N.C. — Three years of soaring growth have propelled
(Nasdaq: RHAT) to 29th on the "100 Fastest Growing Companies " list as picked by Fortune magazine.
Red Hat, which was not ranked in 2005, has increased revenues by 47 percent over the three-year period covered by the new Fortune survey.
Only one other North Carolina company cracked the list. Steel producer Nucor, which is based in Charlotte, climbed to 10th place from 63rd a year ago. It has increased revenues by 44 percent over the last three years.
Two Georgia companies also made the list: CompuCredit, 33rd; and RPC, 38th.
Red Hat reported $278.3 million in revenues and $79.7 million in profits over the past year. The Linux software developer and solutions provider has produced a 46 percent return over three years and increased earnings per share by 143 percent.
Red Hat reports its latest quarterly earnings next Tuesday.