Feeds

Novell posts drop in revenues and profits

Pleased with Linux progress

Build a business case: developing custom apps

Novell has recorded a $12m drop in revenues for the first quarter of 2007.

The networking software firm reported net revenues of $230m for the period ending 31 January, (Q1 '06: $242m). Novell posted net losses of $19.9m for the quarter, resulting in a loss per share of $0.06, compared with net profits of $1.8m and flat earnings per share for the same period last year.

The results fell short of analysts' expectations of per share earnings of $0.01 and revenue of $233m. Shares in Novell fell six per cent today.

Although Wall Street reacted unfavourably, there was some positive news for Novell in the results, as it reported $15m of revenue from Linux products, up 46 per cent from last year. Despite the boost in Linux sales, revenue from Identity and Access Management was $24m, down seven per cent compared with the first quarter of 2006. Combined revenue from Open Enterprise Server and products related to NetWare dropped 18 per cent.

"We are very pleased with our first quarter Linux results and momentum," said Ron Hovsepian, president and chief executive of Novell, in a statement.

"We have made good progress toward implementing our strategic initiatives and achieving our key fiscal year 2007 milestones. Overall, our quarterly results were mixed and we will need to improve our execution in our identity, security and systems management businesses. We feel confident that we are on the right path to put Novell on target for sustained profitability."

Copyright © 2007, ENN

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.