Novell Revenues Up, Cuts Losses
Novell enjoyed a revenue increase and shaved its losses in its fiscal second quarter ended April 30, though software license revenues were down in the quarter.Novell Inc. enjoyed a revenue increase and shaved its losses in its fiscal second quarter ended April 30, though software license revenues were down in the quarter. The Provo, Utah-based provider of identity management, Web application development and messaging software and networking and other services posted total revenues of $276 million, up from $273.9 million in the same year-ago period. Novell took a net loss of $28.6 million on that revenue, compared to a $173.5 million loss in last years second quarter. Much of last years loss was caused by accounting charges however. The companys operating loss actually rose year-to-year, from $13.7 million to $22.5 million. Novell lost $26 million in cash from operations during the quarter.
Novell also took a hit on software license revenues, which fell from $70.4 million to $64.5 million. Service and maintenance revenues of $211.5 million, up from $203.4 million in the same period a year ago, more than made up for the shortfall though.