Financial Data
It appears RedHat is doing much better than some of the dot.crap.com
guys who have no revenue nor any earnings but still got away with raising millions of dollars just on hype.If nothing else this should be a hot ipo is what I am thinking.
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SUMMARY FINANCIAL DATA
The following table summarizes the financial data of our business. You should read this information with the discussion in "Management Discussion and Analysis of Financial Condition and Results of Operations" and our financial statements and notes to those statements included elsewhere in this prospectus.
YEAR ENDED FEBRUARY 28,
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1995 1996(1) 1997 1998 1999
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(IN THOUSANDS, EXCEPT PER SHARE DATA)
STATEMENT OF OPERATIONS DATA:
Revenue............................... $ 482 $ 930 $ 2,603 $ 5,156 $ 10,790
Net income (loss)..................... (128) (155) 33 8 (91)
Net income (loss) available to common
stockholders........................ (128) (155) 33 8 (130)
Earnings (loss) per common share:
Basic............................... $ (0.0107) $ (0.0069) $ 0.0014 $ 0.0003 $ (0.0055)
Diluted............................. (0.0107) (0.0069) 0.0012 0.0002 (0.0055)
Weighted average common shares
outstanding:()
Basic............................... 12,000 22,626 23,500 23,500 23,550
Diluted............................. 12,000 22,626 27,233 34,578 23,550
Pro forma earnings (loss) per common
share:
Basic............................... $ (0.0107) $ (0.0069) $ 0.0014 $ 0.0003 $ (0.0021)
Diluted............................. (0.0107) (0.0069) 0.0012 0.0002 (0.0021)
Pro forma weighted average common
shares outstanding:
Basic............................... 12,000 22,626 23,500 30,842 43,930
Diluted............................. 12,000 22,626 27,233 34,578 43,930
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(1) Red Hat's fiscal year ended on February 29, 1996.
The following table presents a summary of our balance sheet at February 28, 1999:
- on an actual basis;
- on a pro forma basis to reflect conversion of all outstanding shares of our preferred stock at February 28, 1999 into a total of 31,890,676 shares of common stock, which will occur upon closing of this offering; and
- on a pro forma as adjusted basis to reflect the sale of shares of common stock in this offering at an assumed initial public offering price of $ per share after deducting the estimated underwriting discount and offering expenses.
- the pro forma and pro forma as adjusted amounts do not reflect the conversion of 1,027,388 shares of Series C preferred stock into 2,054,776 shares of common stock. We issued these shares of Series C preferred stock in March and April 1999 for net proceeds of approximately $3.2 million. If these shares were reflected, our pro forma total stockholders' equity would be $15.3 million and our pro forma, as adjusted stockholders' equity would be $ .
FEBRUARY 28, 1999
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PRO FORMA
ACTUAL PRO FORMA AS ADJUSTED
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(IN THOUSANDS)
BALANCE SHEET DATA:
Cash and cash equivalents................ $ 10,055 $ 10,055 $
Working capital.......................... 11,100 11,100
Total assets............................. 15,276 15,276
Long-term liabilities.................... 420 420
Mandatorily redeemable preferred stock... 12,107 --
Total stockholders' equity (deficit)..... (5) 12,102
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