Novell Earnings Fall, But Linux Products Offer Hope
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For Novell's first fiscal quarter of 2011, which ended on January 31, 2011, Novell reported revenues of $191 million. The first quarter 2011 revenue is a decline of nearly 6 percent from the $202 million in revenues Novell reported for the first quarter of 2010. On the net income side, Novell reported a net loss of $18 million or $0.05 per share which is in stark contrast with the first quarter of 2010 when Novell reported a profit of $20 million. Part of the Novell first quarter 2011 let loss stems from a $31 million tax charge related to Novell bringing non-U.S. cash back into the country. Novell's Linux business held its own during the quarter. Novell's Linux platform products earned $37.8 million in revenue during the quarter, an increase of 0.9 percent on a year-over-year basis.
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