Novell Cuts Losses Thanks to Linux
In its third quarter reports, Novell has announced reduced losses accompanied by turnover growth from US$ 236m to US$ 243m.
Novell's third quarter closes July 31. The net loss for the quarter has dropped to US$ 3.42m which is 48 percent less than in the same period last year (US$ 6.5 m).
Novell's losses in the second quarter of 2007 were totaled US$ 2.2m. Novell generated US$ 22m of turnover with its open platform products, 21 million of which are attributable to Linux products. Linux-related turnover has thus risen by 77 percent compared to the previous year's figures. In comparison to this, identity and access management products generated US$ 27m, an increase of just two percent. The turnover in the system and resource management division was US$ 35m, and up four percent compared to last year. Turnover in workgroup applications dropped by 2 percent to US$ 83m.
Novell anticipates a net turnover of between US$ 924 and 955 for the fiscal year 2007, compared to US$ 967 m in 2006.
Novell's quarterly support slightly exceeds analysts' expectations. Novell's share price rose after the announcement from US$ 6.65 to US$ 6.75 at close of trading.
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