Novell Reports Financial Results for Fiscal Quarter

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<p><strong>Waltham, Mass. &mdash; Aug. 30</strong><br />Novell Inc. has announced financial results for its third fiscal quarter (ended July 31).</p><p>For the quarter, Novell reported net revenue of $243 million, compared with net revenue of $236 million for the third fiscal quarter 2006. </p><p>The loss from operations for the third fiscal quarter 2007 was $10 million, compared with a loss from operations of $40 million for the third fiscal quarter 2006. </p><p>The loss available to common stockholders from continuing operations in the third fiscal quarter 2007 was $3 million, or $0.01 loss per common share. </p><p>This compares with a loss available to common stockholders from continuing operations of $17 million, or $0.05 loss per common share, for the third fiscal quarter 2006. </p><p>Foreign currency exchange rates favorably affected total revenue by about $4 million and negatively affected the loss from operations by $1 million year over year.<br /><br />On a non-GAAP basis, adjusted income from operations for the third fiscal quarter 2007 was $12 million. This compares with non-GAAP-adjusted income from operations of $6 million in the year-ago quarter. </p><p>Non-GAAP-adjusted income available to common stockholders from continuing operations for the third fiscal quarter 2007 was $16 million, or $0.05 per adjusted diluted common share. </p><p>This compares with non-GAAP-adjusted income available to common stockholders from continuing operations of $24 million, or $0.06 per adjusted diluted common share, for the third fiscal quarter 2006.<br /><br />For the third fiscal quarter 2007, Novell reported $22 million of revenue from Open Platform Solutions, of which $21 million was from Linux Platform Products, up 77 percent year over year. </p><p>Linux Platform Products invoicing was $38 million, up 95 percent year over year. </p><p>Revenue from identity and security management was $30 million, of which identity and access management was $27 million, up 2 percent year over year. </p><p>Revenue from systems and resource management was $35 million, up 4 percent year over year. </p><p>Revenue from the workgroup business unit declined 2 percent from the year-ago period to $83 million.<br /><br />&ldquo;We are encouraged by our Linux performance and the market&#39;s continued enthusiasm for our desktop to datacenter strategy,” said Ron Hovsepian, president and CEO. “In addition, we are pleased with our operating margin expansion and progress on our strategic initiatives.&rdquo;  <br /><br />Cash, cash equivalents and short-term investments were $1.8 billion July 31, consistent with last quarter. </p><p>Days sales outstanding in accounts receivable was 74 days at the end of the third fiscal quarter 2007, down from 88 days at the end of the year-ago quarter. </p><p>Total deferred revenue was $734 million at the end of the third fiscal quarter 2007, up $343 million, or 88 percent, from July 31, 2006. </p><p>Cash flow from operations was $26 million for the third fiscal quarter 2007, compared with $36 million in the third fiscal quarter 2006.</p>

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