Red Hat Shakes Off Economic Meltdown

"In a conference call with analysts after the market closed today, Jim Whitehurst, Red Hat's president and chief executive officer, bragged that Red Hat was able to weather the economic storm by being a provider of "low cost, high value" software and services, and said that the company renewed the top 25 accounts that were up for renewal.

"He added that with companies looking around to cut costs, as they did when Red Hat was a relative youngster back in the 2001 IT recession, Red Hat was in better shape since it had a much broader and deeper product line, as well as a global company with operations in 65 offices in 28 countries."

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