Feeds

Novell delays Q4 results due to SEC missives

Time to count beans

Bridging the IT gap between rising business demands and ageing tools

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.®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.