Novell reports increase in profit despite sales decline


Novell reports increase in profit despite sales decline

Ian Grant

Network firm Novell reported a slight drop in sales, but increased profits and doubled earnings per share in its first quarter 2010.

Net revenue dropped to $202m from $215m in the first quarter 2009. Income from operations was up 50% to $21m, from $14m last year. Earnings per share were $0.06 per share, up from $0.03 per share for the same quarter last year. Cash, cash equivalents and short-term investments totalled $991m, up from $983m in the previous quarter.

Novell CEO Ron Hovsepian said he was pleased with the invoicing recovery in Novell's security, management and operating platforms business unit and operating margins.

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