Feeds

Novell delays Q4 results due to SEC missives

Time to count beans

Top 5 reasons to deploy VMware with Tegile

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.®

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
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.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.