Feeds

Losses widen at Novell

Mind the gap

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Novell has reported widening losses as restructuring charges led to it recording a net loss of $94.5 million for its fourth quarter.

The network software and services firm yesterday reported Q4 revenues of $308 million. Restructuring and other charges taken this quarter totalled $114 million, pushing Novell firmly into the red. In the same period last year Novell recorded a net loss of $34.5 million on revenues of $273 million. Full year net loss was $273 million on revenues of $1.04 billion (compared to $1.16 billion last year).

Coming after Novell announced the lay off of 19 per cent of its staff (or 1,400 workers) earlier this month, the financial results hardly come as little surprise.

Looking ahead, Novell expects Q12002 revenues of between $265 million and $275 million, which will leave the firm hovering around breakeven, before the impact of any restructuring and integration costs.

Jack Messman, Novell chairman and chief executive officer, said performance next year "will depend on an improving IT market".

Separately, Novell announced the acquisition of mobile and wireless device management firm Callisto Software, for an undisclosed amount. The technology will be added to Novell's ZENworks network management software portfolio, with ZENworks for Handhelds expected to become available early next year. ®

Related stories

Job axe falls at Novell
Novell frees clients with NetWare 6
Novell: In front or also-ran?
Novell makes eDirectory freeware
Novell CEO steps down as it acquires consulting firm
Novell reinvents itself for the Internet
'Panting homosexual' applauds Novell's Randy Bender
Novell sues Microsoft over NetWare death ad

External links

Novell's results
Novell adds mobile and wireless device management to ZENworks portfolio

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.