Novell posts preliminary 1Q loss |
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Thu, 01 Mar 2007 22:44
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WALTHAM, Mass. (AP) - Networking software company Novell Inc. said Thursday early results show it fell to a loss in the first quarter as sales declined.For the quarter ended Jan. 31, the company's loss applicable to common shareholders totaled $19.9 million, or 6 cents per share, compared with earnings of $1.8 million, or breakeven per share, a year earlier.Adjusted loss from continuing operations -- excluding stock options costs -- was $3.5 million, or a loss of a penny per share.Novell's results are preliminary because it is reviewing its past stock option granting practices.Revenue fell 5 percent to $229.6 million from $242.4 million.Analysts, on average, were looking for earnings of a penny per share on sales of $234 million, according to a poll by Thomson Financial.'Overall, our quarterly results were mixed and we will need to improve our execution in our identity, security and systems management businesses,' said Ron Hovsepian, president and chief executive, in a statement.Shares of the company fell 21 cents, or 3 percent, to $6.50 in aftermarket activity, after closing at $6.71 on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Novell gets second Nasdaq warning 