Novell Q3 revenue up US$7m

30 Aug 2007

With net revenue of US$243m compared with US$236 for the third quarter of 2006, infrastructure software provider Novell’s revenue was up US$7m year on year while operations losses were down to US$10m in comparison to US$40m for Q3 2006.

Novell, which has a base in Dublin, reported revenue of US$22m from its Open Platform products with US$21m from the Linux Platform products. This represented a growth in revenue of 77pc year on year.

Ron Hovsepian, president and CEO of Novell said: “We are encouraged by our Linux performance and the market’s continued enthusiasm for our desktop to data centre strategy. In addition, we are pleased with our operating margin expansion and progress on our strategic initiatives.”

Revenue from identity and security management stood at US$30m, US$27m of which was generated from identity and access management, up 2pc from Q3 of last year.

Share prices for the company rose by 2.5pc to US$6.95 on the back of a narrowing Q3 loss and increase in sales.

The software company projects net revenue of between US$925m and US$955m for the full fiscal year based on previous results.

Novell Ireland carries out a number of functions on behalf of Novell EMEA (Europe, Middle East and Asia), including software localisation, manufacturing, distribution, financial control, treasury and the sales operation for Irish customers and partners.

By Marie Boran