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Novell Earnings Fall, But Linux Products Offer Hope

Mar 04, 2011, 19:04 (0 Talkback[s])
(Other stories by Sean Michael Kerner)

[ Thanks to SMK for this link. ]

"From a financial perspective, 2011 is not starting off particularly well for enterprise software vendor Novell. The company released its first quarter fiscal 2011 financial results this week, reporting a decline in revenues and a net loss for the quarter.

"Novell (NASDAQ:NOVL) did not host an analyst call to discuss its earnings, as the company is in the process of being acquired and taken private by Attachmate in a deal valued at $2.2 billion.

"For Novell's first fiscal quarter of 2011, which ended on January 31, 2011, Novell reported revenues of $191 million. The first quarter 2011 revenue is a decline of nearly 6 percent from the $202 million in revenues Novell reported for the first quarter of 2010. On the net income side, Novell reported a net loss of $18 million or $0.05 per share which is in stark contrast with the first quarter of 2010 when Novell reported a profit of $20 million."

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