Novell recovery continues

Novell increased its estimates for full year revenue yesterday to between $940 and $980m, and said margins for the year were also improving.

Reporting third quarter results, Novell said it brought in revenues of $245m, compared to $237m for the third quarter of 2007. Income from operations was $1m compared to a loss of $10m for the same three months of last year. But this was turned into a loss of $15m for the period because of a debt write-off.

The company made revenues of $33m from Open Platform Solutions - $31m of this from Linux products. Identity and Security Management brought in $37m, but Workgroup product revenues were down one per cent to $92m.

Novell expects margins for the year to be between eight and ten per cent rather than the seven and nine per cent previously forecast. Full statement here. ®