BOSTON – Business software maker Novell Inc. posted a preliminary quarterly profit on Tuesday, bouncing back from a year-earlier loss when it took a $38 million restructuring charge.
It reported fiscal fourth-quarter net income available to common stockholders of $23.7 million, or 6 cents a share, compared with a loss of $5.0 million, or 1 cent, a year earlier.
Revenue fell 15 percent from a year earlier to $244.9 million on weak sales of older products.
Wall Street was expecting revenue of $251.5 million, the average forecast of analysts polled by Reuters Estimates.
Full-year revenue fell to $967 million in the year ended October 31 from $1.04 billion in the previous year. The company told investors sales could fall again in the current year, which ends in October 2007.
Novell now expects fiscal 2007 revenue of between $945 million and $975 million. Analysts forecasts range from $949 million to $1.05 billion, with an average of $1.0 billion, according to Reuters Estimates.
“Overall these are disappointing results,” said Jefferies & Co. analyst Katherine Egbert, citing the lower-than-expected fourth-quarter sales figure and the 2007 revenue forecast.
The software maker’s shares fell 8 percent in after hours electronic trading, dropping to $5.80 from their Nasdaq close of $6.33.
Novell said the fourth-quarter results were preliminary because it is conducting a voluntary review of its historical stock options, which could lead to adjustments in its accounting.
Fuente: El Economista