Overall, Novell's business weakened, but there was one bright, shining spot: Linux.
Its hard to say exactly whats happening with Novells earnings, while it continues to audit its past stock-option practices. Still, while awaiting the results from the audit committee, Novell on March 1 announced preliminary financial results for its 2007 fiscal year first quarter, showing net revenue of $230 million.
The first quarters revenue represented a decline of $12 million, or about 5 percent, from the prior years first quarter revenue of $242 million.
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The loss available to common stockholders from continuing operations in the latest reported quarter was $20 million, or $0.06 loss per common share. This compares to income available to common stockholders from continuing operations of $4 million, or $0.01 per diluted common share, for the first fiscal quarter 2006.
Despite the unexceptional overall results during the first fiscal quarter 2007, Novell reported $15 million of revenue from Linux Platform Products, up 46 percent year-over-year, and $91 million of invoicing, up a whopping 659 percent year-over-year. Linuxmake no doubt about itis Novells future.
The revenue from Novells identity and access management was $24 million, down 7 percent from the prior fiscal years first quarter. Combined revenue from Open Enterprise Server and products related to NetWare declined 18 percent from the year-ago period.
Read the full story on Linux-Watch.com: Novells Revenue Sags, Linux Business Soars