Novell announces US$2.2m loss in second quarter
[31.05.2007 first posted on silicon republic]
Software firm Novell, which employs 120 in Sandyford, has reported a second-quarter net loss of US$2.2m.
During the quarter the company reported US$19m of revenue derived from its Linux Platform products, up 83pc from last year.
Novell’s Linux Platform products are based on code behind the open source operating system Linux. The Free Software Foundation, which owns the rights to most of this code, had originally threatened to sue Novell for entering a patent agreement with Microsoft.
The organisation has since decided to back off, according to an inside source, despite the fact that Novell’s deal with Microsoft brought in payments totaling US$348m.
Revenue from Novell’s Identity and Access Management brought in US$23m, which was up 5pc on last year, and the company revealed income of US$29m from invoicing, a growth of 114pc from the second quarter of last year.
Ron Hovsepian, president and CEO of Novell, said that while they were pleased with the results a lot of work remains ahead of them.
“We believe we are on track to achieve our fiscal 2007 exit rate operating margin target,” he said.
By Marie Boran
Posted: May 31st, 2007 under news.