Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Applications
    • Applications
    • Networking
    • Servers

    Novell Delays Earnings Report

    By
    Steven J. Vaughan-Nichols
    -
    December 6, 2007
    Share
    Facebook
    Twitter
    Linkedin

      Novell stockholders were unpleasantly surprised on Dec. 5, when instead of hearing from Novell on how the Linux distributor had done over the last quarter and the full 2007 fiscal year, they were presented with an earnings announcement postponement instead.

      The cause for this last minute delay was a pair of unresolved issues with the Securities and Exchange Commission. The details of the SEC questions aren’t available. What we do know is that the SEC asked questions in August about Novell’s Form 10-K, a comprehensive overview of the company’s business and financial condition, for the fiscal year ended Oct. 31, 2006, and its Form 10-Q, which contains unaudited financial statements and a view of the company’s financial position, for the quarterly period that ended April 30, 2007.

      Novell delivered a response letter to the SEC on Sept. 20, 2007. On Oct. 18, Novell received a second comment letter from the SEC indicating that the SEC had reviewed Novell’s response to the Aug. 7, 2007 letter. The second comment letter was limited to certain accounting matters. Novell responded to the SEC’s second comment letter on Nov. 7, 2007 and is still awaiting an SEC response.

      With these issues still in the balance, Novell has elected to not issue its fourth quarter and year-end reports. “We are confident of our accounting and are working diligently with the SEC to respond to their inquiries,” said Dana C. Russell, Novell’s chief financial officer. “In an abundance of caution, we have chosen to postpone our earnings release. We look forward to completing our dialogue with the SEC.”

      Broadpoint Capital, an investment bank, expects Novell to report total fourth quarter revenues of $239-$252 million. Looking ahead, Broadpoint expects Novell’s Linux revenue growth to continue at a healthy pace and its shift from direct sales to more of a channel-based approach to positively affect Novell’s bottom line.

      In its last reported quarter, Novell announced that it had net revenue of $243 million. At the same time, Novell said that its Linux business has exploded with a growth rate of 77 percent year over year.

      Novell intends to release its fourth quarter and full year 2007 earnings upon the completion of the SEC’s review. Novell is unable to estimate when the process will be completed, but currently expects to file its Form 10-K for the fiscal year ended Oct. 31, 2007 on or before its due date of Dec. 31, 2007.

      Check out eWEEK.com’s Linux & Open Source Center for the latest open-source news, reviews and analysis.

      Steven J. Vaughan-Nichols
      I'm editor-at-large for Ziff Davis Enterprise. That's a fancy title that means I write about whatever topic strikes my fancy or needs written about across the Ziff Davis Enterprise family of publications. You'll find most of my stories in Linux-Watch, DesktopLinux and eWEEK. Prior to becoming a technology journalist, I worked at NASA and the Department of Defense on numerous major technological projects.

      MOST POPULAR ARTICLES

      Big Data and Analytics

      Alteryx’s Suresh Vittal on the Democratization of...

      James Maguire - May 31, 2022 0
      I spoke with Suresh Vittal, Chief Product Officer at Alteryx, about the industry mega-shift toward making data analytics tools accessible to a company’s complete...
      Read more
      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Applications

      Cisco’s Thimaya Subaiya on Customer Experience in...

      James Maguire - May 10, 2022 0
      I spoke with Thimaya Subaiya, SVP and GM of Global Customer Experience at Cisco, about the factors that create good customer experience – and...
      Read more
      Big Data and Analytics

      GoodData CEO Roman Stanek on Business Intelligence...

      James Maguire - May 4, 2022 0
      I spoke with Roman Stanek, CEO of GoodData, about business intelligence, data as a service, and the frustration that many executives have with data...
      Read more
      Cloud

      Yotascale CEO Asim Razzaq on Controlling Multicloud...

      James Maguire - May 5, 2022 0
      Asim Razzaq, CEO of Yotascale, provides guidance on understanding—and containing—the complex cost structure of multicloud computing. Among the topics we covered:  As you survey the...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2022 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×