Novell’s Results Beat Expectations
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Novell Inc., a Utah maker of computer-network software, said its fiscal fourth-quarter loss widened on expenses related to job cuts and investment losses. Excluding those costs, Novell had a profit of 2 cents a share, better than the break-even quarter that analysts expected.
The loss including onetime items widened to $94.5 million, or 26cents a share, from $35million, or 11 cents, in the year-earlier period. Sales in the quarter ended Oct. 31 rose to $307.6 million.
Novell, which has been trying to offer more consulting services after losing ground in network software to Microsoft Corp., said earlier this month that it was firing 1,400 employees. The company added more than 3,000 workers in July when it bought Cambridge Technology Partners Inc., a computer-related consulting company.
Novell shares climbed as high as $4.50 in extended trading after closing up 5 cents at $3.99 on Nasdaq before the results were released.
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