Novell Reports Financial Results for Second Fiscal Quarter
2006
Year-over-year results show continued growth in Linux and
Identity revenues and improvement in overall profitability
WALTHAM, Mass.31 May 2006Novell, Inc. (NASDAQ:NOVL) today announced
financial results for its second fiscal quarter ended April 30,
2006. For the quarter, Novell reported revenue of $278 million,
compared to revenue of $297 million for the second fiscal quarter
2005. Net income available to common stockholders in the second
fiscal quarter 2006 was $3 million or $0.01 per diluted common
share. This compared to net loss available to common stockholders
of $16 million, or $0.04 loss per diluted common share, for the
second fiscal quarter 2005.
On a non-GAAP basis, adjusted net income available to common
stockholders for the second fiscal quarter 2006 was $10 million, or
$0.03 per diluted common share. This compared to non-GAAP adjusted
net income available to common stockholders of $2 million, or $0.01
per diluted common share, for the second fiscal quarter 2005. These
amounts exclude stock-based compensation, restructuring and
acquired in-process research and development expenses, gains on
sale of property, plant and equipment and a legal settlement,
long-term investment impairments and related adjustments for income
taxes, debt interest expense and the allocation of earnings to
preferred stockholders.
Laptop Battery In the second fiscal quarter 2006, foreign currency exchange
rates unfavorably impacted total revenue by approximately $6
million year-over-year. Foreign currency exchange rates favorably
impacted net income by $1 million year-over-year.
Stamps.com Reports Third Quarter 2003 Financial Results Revenue Up 32% Year over Year; Customer Acquisition Momentum Builds SANTA MONICA, October 29, Stamps.com™ ( STMP) today announced financial results for the third fiscal quarter ended September 30, 2003. Third quarter revenue was up 32% versus the same quarter last year, and up 7% versus the second fiscal quarter of 2003. In addition, the company reported an increase in customer acquisition during the third quarter, particularly with higher value Power Plan customers.
Thinkpad During the second fiscal quarter 2006, Novell reported total
Open Platform Solutions revenue of $57 million, which was up from
$20 million in the year ago period. Total Open Platform Solutions
included $46 million from sales of Open Enterprise Server (OES), up
$38 million year-over-year, and $10 million of revenue from Linux*
Platform Products, up 20 percent year-over-year.
GAAP adjusted net income for the second quarter of fiscal 2006 was $8.4 million, an increase of 11% GAAP adjusted net income for the second quarter of fiscal 2005 of $7.5 million, remaining constant at $0.38 per diluted share. GAAP adjusted EBITDA in the second quarter of fiscal 2006 was $13.7 million, a 6% increase compared to $13.0 million in the second quarter of fiscal 2005. GAAP adjusted EBITDA is provided in the notes to the financial statements included in this press release.
Microsoft During the second fiscal quarter 2006, Novell reported $61
million of Systems, Security and Identity Management revenue, up 16
percent year-over-year.
Stamps.com Reports Second Quarter 2003 Financial Results Revenue Up 34% Year over Year; Total Postage Printed Up 78% Year over Year SANTA MONICA, Calif. July 24, Stamps.com™ ( STMP) today announced financial results for the second fiscal quarter ended June 30, 2003. Second quarter revenue was up 34% versus the same quarter last year, and up 9% versus the first fiscal quarter of 2003. Total postage printed using the Stamps.com service during the second quarter was up 78% from the same period last year as customer usage of newer Stamps.com features such as NetStamps™ and Shipping Label continues to increase.
Laptop Computers Combined revenue from OES and NetWare-related products declined
16 percent from the year ago period.
Nuance Communications, Inc. ( NUAN) today announced financial results for the fourth fiscal quarter ended September 30, 2007. Nuance reported revenues of $179.9 million in the quarter ended September 30, 2007, a 40 percent increase over revenues of $128.1 million in the quarter ended September 30, 2006. On a GAAP basis, Nuance recognized a net loss of $3.4 million, or $(0.02) per share, in the quarter ended September 30, 2007, compared with a net loss of $7.2 million, or $(0.04) per share, in the quarter ended September 30, 2006.
Laptop Computer While Novell delivered on its financial guidance again this
quarter, we have not lost sight of our goal to significantly
increase our profitability by the end of fiscal year 2008, said
Jack Messman, chairman and CEO of Novell. We are engaged in many
initiatives to grow revenues, increase efficiencies, and lower
costs, to enhance shareholder value.
laptop computers is driving strong sales for notebook computers, according to the latest quarterly sales figures from the research firm IDC, which reported a 37% computer sales for the second quarter, compared with a year earlier. In the U.S., laptop sales grew 17.7%, while sales of desktop computers and servers fell 4%. The New York Times ( 10), CNET ( 10)
Desktop Computer With regard to the company's previously announced share
repurchase program, Novell repurchased 35 million common shares at
a cost of $267 million during the quarter. An additional 16 million
common shares were repurchased for $133 million after the quarter's
end, resulting in an aggregate repurchase amount of $400 million,
or 51 million shares. These repurchases complete the share
repurchase program authorized and announced in September 2005 and
amended in April 2006.
Notebooks Cash, cash equivalents and short-term investments were $1.3
billion at April 30, 2006, down $347 million from last quarter
primarily due to cash used to repurchase common stock and the
acquisition of e-Security. Days sales outstanding in accounts
receivable was 66 days at the end of the second fiscal quarter
2006, up from 59 days in the year ago quarter. Deferred revenue was
$346 million at the end of the second fiscal quarter 2006, up $25
million or 8 percent from the prior year. Cash flow from operations
was a negative $24 million for the second fiscal quarter 2006, up
from a negative $25 million in the second fiscal quarter 2005.
Lenovo Full details on Novells reported results, including a
reconciliation of the non-GAAP adjusted results, are included in
the financial schedules that are a part of this release.
Hard Drive Financial Outlook
Due to the previously announced sale on May 24, 2006, of Novell's
ownership in its management consulting subsidiary, Celerant, Novell
will no longer consolidate Celerant's results. Novell expects to
report Celerant's partial period results in the third fiscal
quarter 2006 as discontinued operations. Accordingly, Novell
management provides the following financial guidance:
Travelstar Net revenue, excluding Celerant, for the third fiscal quarter
2006 is expected to be between $239 million and $247 million.
On a non-GAAP basis, net income per diluted common share,
excluding Celerant, for the third fiscal quarter 2006 is expected
to be $0.03, excluding an estimated $0.03 per share expense from
stock-based compensation.
Gateway A summary of Novells vision, mission and strategy can be
accessed on the Novell Web site at:
http://www.novell.com/company/ir/qresults/.
Laptop Parts Conference call notification and Web access detail
A live Webcast of a Novell conference call to discuss the quarter
will be broadcast at 5:00 PM ET May 31, 2006, from Novell's
Investor Relations Web page:
http://www.novell.com/company/ir/qresults/. The domestic conference
call dial-in number is 866-335-5255, password Novell, and the
international dial-in number is +1-706-679-2263, password
Novell.
Software The call will be archived on the Web site approximately 15
minutes after its conclusion, and will be available for telephone
playback through midnight ET, June 7, 2006. The domestic toll-free
replay number is 800-642-1687, and the international replay number
is +1-706-645-9291. Replay listeners must enter conference ID
number 8678383.
Hard Drives A copy of this press release is posted on Novells Web site at:
http://www.novell.com/company/ir/qresults/.
Electronics Legal notice regarding forward-looking statements
This press release includes statements that are not historical in
nature and that may be
characterized as forward-looking statements, including those
related to future financial and operating results, benefits and
synergies of the companys brands and strategies, future
opportunities and the growth of the market for Identity and Access
Management and Open Platform Solutions. You should be aware that
Novells actual results could differ materially from those contained
in the forward-looking statements, which are based on current
expectations of Novell management and are subject to a number of
risks and uncertainties, including, but not limited to, Novells
ability to integrate acquired operations and employees, Novells
success in executing its Linux and identity and resource management
strategies, Novells ability to take a competitive position in the
Linux and identity and resource management industries, business
conditions and the general economy, market opportunities, potential
new business strategies, competitive factors, sales and
marketing execution, shifts in
technologies or market demand and the other factors described in
Novells Annual Report on Form 10-K filed with the Securities and
Exchange Commission on Jan. 10, 2006. Novell disclaims any
intention or obligation to update any forward-looking statements
as a result of developments occurring after the date of this
press release.
About Novell
Canon Novell, Inc. (Nasdaq: NOVL) delivers Software for the Open
Enterprise. With more than 50,000 customers in 43 countries, Novell
helps customers manage, simplify, secure and integrate their
technology environments by leveraging
best-of-breed, open
standards-based software. With over 20 years of experience, more
than 5,000 employees, 5,000 partners and support centers around
the world, Novell helps customers gain control over their IT
operating environment while reducing cost. More information
about Novell can be found at http://www.novell.com .
Desktop Pc Source: Novell, Inc.
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