"Red Hat is the first pure-play, open source company, and one of only a select few software companies, to have achieved the billion dollar revenue milestone," said Jim Whitehurst, the company's president and CEO, in a statement. "The open source technologies which we provide are being selected by more customers every day as they re-architect the infrastructure of their data centers for greater efficiency, agility and cloud enablement."
The stock was last quoted at $55.90, up 9%, on volume of more than 650,000, according to Nasdaq.com.
Also drawing some trading interest after the bell was Red Lion Hotels (RLH), which announced plans to explore its strategic options.
The company said its board has hired Bank of America Merrill Lynch to look at ways to "maximize shareholder value, including a potential sale of the company or a strategic combination with a third party."Red Lion has formed a strategic committee comprised of three independent directors to work with B of A on the review. The stock ran as high as $9.19 in extended trades but volume was light. The company didn't put any time constraints on the evaluation period, and said it would not be disclosing any developments unless or until a final decision is made. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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