Networking software maker Novell has posted revenue of $267.1m and net income of $10.1m for the first quarter of 2004 ending 31 January, reversing a net loss of $11.8m for the same period last year.
Novell said revenue was $7m higher than the $260m posted a year ago on a generally accepted accounting principles (GAAP) basis.
On a non-GAAP basis, which excludes investment impairments of $1m, adjusted net income for the first fiscal quarter was $11m. That compares with a non-GAAP adjusted net loss of $1m for the same quarter last year, excluding $11m in investment impairments.
"I am encouraged by our performance during the quarter in what remains a challenging IT business environment," said Novell chairman, president and chief executive officer Jack Messman.
"We showed steady progress in positioning Novell for high-growth opportunities, including the Linux market, while completing a significant acquisition and continuing to work through a major reorganisation of our North American operations. We are now ... moving quickly to deliver enterprise-class network services for mixed environments, including Linux."
In November, Novell announced the acquisition of Linux supplier SuSE Linux AG, just three months after it had bought Linux desktop company Ximian.
Both moves followed Novell's announcement last April that it would adopt Linux as a migration path for its NetWare network operating system
Todd R Weiss writes for Computerworld