ADVFN - Advanced Financial Network.
HOME» NASDAQ » N » NOVL Stock Price » NOVL Stock News

Novell Share News

 Novell (mm) Stock Price
NOVL Stock Price
 Novell (mm) Stock Chart
NOVL Stock Chart
 Novell (mm) Stock News
NOVL Stock News
 Novell (mm) Company Information
NOVL Company Information
 Novell (mm) Stock Trades
NOVL Stock Trades

Novell 2Q Profit Up 28% On Lower Expenses; Revenue, Margins Down

DOW JONES NEWSWIRES Novell Inc.'s (NOVL) fiscal second-quarter profit climbed 28% as lower operating expenses more than offset a drop in revenue and margins. The software company also projected third-quarter revenue of $205 million to $210 million, compared with the $210 million projected by analysts polled by Thomson Reuters. Like many of its peers, Novell, which works with open source and proprietary software, is trying to control costs as revenue falls. The company is trying to boost the presence of its Linux-based operating system, Moblin, in low-end netbooks, which have lately become hot items. Novell planned to accept bids from potential buyers earlier this month, people familiar with the matter told The Wall Street Journal, kicking off a process that will likely result in a sale of the company. The company put itself on the block in March, after hedge fund Elliott Associates LP made an unsolicited offer of $5.75 per share. Novell rejected that offer, which valued the company at around $2 billion, but said it would entertain other bids. For the quarter ended April 30, Novell reported a profit of $19.9 million, or 6 cents a share, up from $15.6 million, or 5 cents a share, a year earlier. Excluding investment write-downs and other items, earnings fell to 7 cents a share from 8 cents, in line with the 7 cents projected by analysts. Revenue dropped 5.4% to $204 million, basically in line with the company's downbeat February projection of it being "similar" to the first quarter's $202.4 million. Gross margin slid to 79.8% from 80.1% as total operating expenses dropped 6.5% to $142.8 million. Maintenance and subscriptions revenue, which makes up the bulk of the company's total, decreased 2.8%. Revenue from software licenses was down 8.5%, while services slid 17%. Shares were down 0.9% at $5.85 in after-hours trading. The stock is up 42% this year. -By John Kell and Lauren Pollock, Dow Jones Newswires; 212-416-2356;

Stock News for Novell (NOVL)
04/20/201118:21:09S&P: Chipotle To Replace Novell In S&P 500 After Takeover
04/20/201111:21:35DOJ: CPTN Changes Deal To Buy Novell Patents To Ease Antitrust...
03/03/201117:05:11Novell Swings To 1Q Loss On Charges; Revenue, Margins Slide
12/02/201017:17:37Novell Swings To 4Q Profit On Tax Gain, Year-Ago Write-Down
11/22/201017:07:09MARKET SNAPSHOT: U.S. Stocks Bounce Off Lows As Ireland Seeks...
11/22/201016:40:50TECH STOCKS: Netflix, Novell Pace Broad Tech Gains
11/22/201014:59:29MARKET SNAPSHOT: U.S. Stocks Drop As Financials Lead Retreat
11/22/201014:29:32TECH STOCKS: Netflix, Novell Advances Lead Tech Action
11/22/201012:32:31MARKET SNAPSHOT: U.S. Stocks Drop As Ireland Seeks Aid
11/22/201009:35:46Private-Equity Firms In Deal To Acquire Novell For $2.2 Billion
10/12/201011:31:38EARNINGS PREVIEW: US Software Firms Expected To Show Growth
08/26/201017:01:08Novell Fiscal 3Q Profit Down 5.9% On Lower Revenue, Margins
08/21/201000:20:25MARKET SNAPSHOT: Job, Double-dip Fears Overshadow Strong Earnings
08/09/201017:38:27Novell Trims 3Q Revenue Target; Cites Customer Uncertainty
05/27/201016:53:09Novell 2Q Profit Up 28% On Lower Expenses; Revenue, Margins Down
05/23/201013:26:30MARKET SNAPSHOT: U.S. Stock Market Mulls Implications Of Correction
03/22/201016:57:07TECH STOCKS: Novell, Disk Drivers Lead Broad Tech Advance
03/22/201010:31:20TECH STOCKS: Novell Gains Lead Tech Trading Action
03/22/201008:19:13Novell To Review Options As It Rejects Elliott Takeover Bid
03/20/201016:56:37Novell Board Rejects Elliott Associates' Unsolicited Bid

Novell and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations