Novell Revenues, Earnings Rebound

 
 
By Dennis Callaghan  |  Posted 2002-08-23 Print this article Print
 
 
 
 
 
 
 

Novell saw revenues climb and losses turn to profits in its fiscal third quarter ended July 31.

Novell Inc. saw revenues climb and losses turn to profits in its fiscal third quarter ended July 31. The Provo, Utah-based Internet software and services provider reported revenues of $282.3 million in the quarter, up from $249.1 million in the same year-ago period. After losing $19.3 million in last years fiscal third quarter, Novell turned a $9.9 million profit in the quarter this year. Novells software business provided most of that revenue with $206 million, including $170 million for large network site licenses and $26 million for packaged software licenses. Consulting services, product support and education revenue—not included in site-licenses—totaled $80 million, officials said.
The U.S. market was the leading revenue producer, accounting for $143 million in revenue, with Europe, the Middle East and Africa accounting for $102 million.
Novell chairman and CEO Jack Messman attributed the strong quarter to better-than-expected business in Europe and several large licenses for Web-based employee provisioning solutions in North America. "We were very pleased with the improvement in software revenue in the quarter," said Messman, in a statement. "NetWare, GroupWise and all of our newer Net services software products showed sequential growth. With the progress we are making, and the benefit of an improving IT market, we expect Novell to achieve overall year-over-year growth in 2003." Novell is expecting revenue to be up by about $10 million for its fiscal fourth quarter, ending Oct. 31, though it has expecting to incur more accounting charges this quarter related to its acquisition of SilverStream Software Inc., which closed last month. Related Stories:
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