Q4 Novell: Revenue Down, Loss Up
In its fourth fiscal quarter of 2009, Novell achieved a net revenue of $216 million, a figure down on the $245 million for the same period last year.
The company also reports a Q4 loss of $259 million compared with $16 million in the same quarter 2008. According to the company's report, the loss,"included a $279 million non-cash impairment charge to goodwill and intangible assets." Disregarding these extra expenditures, Novell claims a net profit of $37 million, a practice the denies the general principles of book keeping in the US, (Non GAAP).
Novell's net revenue from its Open Platform Solutions reached $41 million in Q4 of 2009, with Linux contributing $39 million, a rise of 14% compared with the same quarter last year. Identity and Security Management peaked at $32 million, with Identity Access and Compliance Management, the cash cow of the segment, taking losses of 14%. System and Resource Management suffered a revenue minus of roughly the same amount.
For the complete fiscal year 2009, the company recorded a net revenue of $862 million, a loss of $206 million, again influenced by the non-cash impairment. In 2008, Novell had a net revenue of $957 million, and a profit of $5 million.
Ron Hovsepian, President and CEO at Novell, expects a net revenue somewhere between $200 and $210 million for the first quarter of 2010.