Novell Reports Strong Fourth Quarter - InformationWeek

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Novell Reports Strong Fourth Quarter

Novell closed its fiscal year on an upswing Tuesday,reporting $345 million in fourth-quarter revenue, a 16% increase over the same quarter last year. Year-over-year revenue increased to $1.273 billion, a 17% increase over 1998 annual revenues. Per-share earnings were 21 cents for the quarter, beating analyst estimates by 4 cents, and 55 cents for the year, beating analyst estimates by 5 cents.

In the past year, Novell has watched sales of its server and application software grow substantially. Revenue from NetWare grew 24% to $659 million, while revenue from BoarderManager, Novell Directory Services for NT, and ZenWorks for Workstations increased 39% to $315 million.

Despite this growth, going forward Novell will rely less on its traditional business model and its traditional customer base, according to CEO Eric Schmidt, who says that the company is entering a "new phase" as it focuses on the Internet market. Schmidt says Novell will announce in January a number of "E-services" intended to improve the security of and mobile access to the Internet.

Novell's stock closed at 22, down 7%.

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