Feeds

Novell delays Q4 results due to SEC missives

Time to count beans

Beginner's guide to SSL certificates

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.®

The next step in data security

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
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
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.