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Posted in Finance, Novell at 3:36 pm by Dr. Roy Schestowitz
Summary: Very quick coverage about Novell results (more details shortly)
Novell and J.Crew results slated for late-session releaseNovell profit, sales short of Wall Street viewsThe provider of software used by businesses said revenue for the period ended July 31 fell to $199 million from $216.1 million. Excluding special items, Novell said earnings for the period were 6 cents a share.Novell Reports Financial Results for Third Fiscal Quarter 2010 [Novell press release]Novell Q3 Profit Declines – Quick Facts Non-GAAP net income fell to $22 million or $0.06 per share from $25 million or $0.07 per share in the year-ago quarter.Third quarter net revenue declined to $199 million from $216 million in the previous year quarter.Novell FY Q3 MissesCEO Ron Hovespian said in a statement that results missed initial expectations due to “customer uncertainty” related to the company’s March announcement that it is reviewing various alternatives to enhance shareholders value.
Update: Dana Russell speaks out as well. There is additional coverage and our reader gnufreex says: “I am interested to see how many people Novell fired. But they are not reporting that.”
Novell, in midst of buyout speculation, posts sales declineNovell Chief Executive Dana Russell declined to say where the company currently stands in terms of seeking a buyer or other related options.“We’re in the middle of a process here, we’re impacted by it and feeling the effects, and that’s what you see there in the numbers,” Russell said. “There’s certainly a level of uncertainty with customers, partners and our employees.” Novell Fiscal 3Q Profit Down 5.9% On Lower Revenue, MarginsNovell Inc.’s (NOVL) fiscal third-quarter profit dropped 5.9% on lower revenue and margins as results were hurt by customer uncertainty about the software company’s future. Novell Reports Financial Results for Q3 2010Novell, J. Crew Group results on evening deck
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