Brief: Novell Reports Poor Results for Q3

SAN MATEO (08/18/2000) - Novell Inc. this week announced third-quarter fiscal 2000 results indicating that the software vendor still has problems with the sales side of its operations as it struggles to restructure its business.

For the period ending July 31, Novell reported net income of US$8.6 million and earnings per share of 3 cents on net revenue of $270 million. The figures compare poorly with the year-ago quarter when Novell recorded net income of $49.3 million and earnings per share of 14 cents on net revenue of $327 million.

"Although we met our total revenue and earnings objectives for the third quarter, we are nonetheless disappointed by continued weakness of packaged software sales globally, and especially our poor performance in Europe," Novell Chairman and CEO Eric Schmidt said in a statement.

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