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Novell posts loss but sees revenue grow

Novell has reported 13% growth in revenue for its fourth financial quarter of 2001, despite incurring heavy losses at a result of...

Novell has reported 13% growth in revenue for its fourth financial quarter of 2001, despite incurring heavy losses at a result of investments and restructuring costs.

The company reported a net loss of $94.5m (£66m), or $0.26 a share, compared with a net loss of $34.9m, or $0.11 a share, in the same period in 2000. Revenue rang in at $308m, compared with $273m.

"We made progress during the quarter," said Novell president and chief executive Jack Messman. "Our product deliveries were on time and our new business partnerships meant important validations for us."

Novell took a $114m charge from its acquisition of consulting company Cambridge Technology Partners, as well as restructuring fees relating to layoffs of 1,400 of its staff in November.

The reduction in Novell's workforce, combined with the sale of some of its facilities, will reduce costs by $200m in 2002, Messman said.

Sales from Novell's software business accounted for $232m, or 75% of its total revenue for the quarter. Business from Cambridge Technology Partners contributed an additional $75m to total revenue.

Near the end of its fourth fiscal quarter, which ended on 31 October, Novell released NetWare 6. The software includes Web-based services that the company plans to build upon in 2002, Messman said.

Services include a feature called iFolder, which lets users access and synchronise their files securely from any Internet-connected device with a browser, and iPrint, for printing documents remotely using a Web browser.

Messman said Novell is considering making its Web-based services available for competing network software platforms, which could include Microsoft's .Net initiative and Sun Microsystems' SunOne (Open Network Environment) technology.

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