Novell reports increase in profit despite sales decline

By Ian Grant Software, cloud and virtualisation firm Novellreported a slight drop in sales, but increased profits and doubledearnings per share in its first quarter 2010. Net revenue dropped to $202m from $215m in the first quarter2009. Income from operations was up 50% to $21m, from $14m lastyear.

By Ian Grant

Software, cloud and virtualisation firm Novellreported a slight drop in sales, but increased profits and doubledearnings per share in its first quarter 2010.


Net revenue dropped to $202m from $215m in the first quarter2009. Income from operations was up 50% to $21m, from $14m lastyear. Earnings per share were $0.06 per share, up from $0.03 pershare for the same quarter last year.


Cash, cash equivalents andshort-term investments totalled $991m, up from $983m in theprevious quarter.


Novell CEO Ron Hovsepian said he was pleased with the invoicingrecovery in Novell's security, management and operating platformsbusiness unit and operating margins.

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