Novell looks to Linux to pull it out of the red
Losses, lower revenues in Q4
Novell yesterday posted increased quarterly losses on lower revenues but promised its strong commitment to open source will bear fruit over the next year.
For the fourth quarter ending October 31, Novell produced revenues of $287 million compared to revenues of $300 million in Q4 2002 and $283 million in Q3 2003. Net loss in Q4 2003 was $109 million, including $130 million in non-recurring charges (earnings before bad stuff were $19 million). This compares to a net loss of $92 million for the same period last year.
Novell reported revenues of $1.1 billion and a net loss of $162 million for the full fiscal year 2003, compared to a net loss of $247 million with the same $1.1 billion in revenue for FY2002.
Jack Messman, Novell's chairman, president and chief executive officer, said the company was pleased with progress on operating profitability levels.
In August, Novell acquired desktop and server open source developer Ximian. Shortly after the close of Q4, Novell announced its intention to acquire SUSE, the Linux distribution firm.
Messman said the deals further Novell's strategic goals to strengthen its products and services for the Linux platform. ®