Feeds

Novell delays Q4 results due to SEC missives

Time to count beans

Next gen security for virtualised datacentres

Novell is delaying the release of its fiscal fourth quarter results due to an ongoing accounting review by the US Securities and Exchange Commission.

The Linux firm was scheduled to release results today for the quarter ended October 31. But slow correspondence between Novell and an accountant's least favorite pen-pal has struck them with a bout of "an abundance of caution."

"We are confident of our accounting and are working diligently with the SEC to respond to their inquiries," said Dana Russell, CFO of Novell in a statement.

Novell said it first received a comment letter from the SEC on August 7, regarding its filings for the 2006 fiscal year and the second quarter 2007. They responded to the inquiry, and received a second letter a month later indicating the commission had reviewed it and was looking into — Novell reveals — "certain accounting matters."

Novell responded, and hasn't received a letter back. So, here we are.

They intend to release the fourth quarter and full-year 2007 earnings on completion of the SEC's review. Novell doesn't know when the process will be completed, but expects to file its 10-K form for the fiscal year before December 31.

Pink-slipped Penguins

Rumors are bubbling that Novell has begun layoffs of mid-level employees.

Although its Linux biz has been improving, Novell hasn't pleased investors who are putting the squeeze on the company to reach profitability a bit more briskly.®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
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.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.