Yesterday night we wrote about Novell's disappointing results. A more detailed post was promised, so here it is compressed into the set of links that informed and made up overall judgment.
First up, Novell is scheduled to announce third-quarter results on August 27. The anticipated good news: Novell is expected to deliver a profitable quarter, with results expected to slightly exceed the performance of Novell’s Q3 last year, predicts The Motley Fool.
Other S&P 500 listed companies Medtronic (MDT), Novell (NOVL), Staples (SPLS) and jeweler Tiffany & Co. (TIF) will report quarterly earnings this week.
“Fox carries the same message too, but in another Fox page it says clearly that the revenue fell short. They can’t have it both ways.”These results were soon parsed based on the press release and Market Watch revealed the deficiencies (also mentioned in Fox and some aggregated reports like this one and that one).
RTT News had this couple of reports and another source (also in here) called the results "inline" even though expectations were missed. Fox carries the same message too, but in another Fox page it says clearly that the revenue fell short. They can't have it both ways.
Novell's overall profit is attributed to lower expenditures (including staff layoffs).
The Wall Street Journal said that shares had fallen due to the revenue fall, whereas Reuters claimed that Wall Street's expectations were met, which contradicts other reports, but not this one:
Novell Inc. (Nasdaq: NOVL) 2.3% LOWER; reports Q3 EPS of $0.07, ex-items, in-line with the analyst estimate of $0.07. Revenue for the quarter was $216 million, versus the consensus of $216.64 million.
Among the companies whose shares are actively trading in the after-hours session are OmniVision Technologies Inc. (OVTI), Netezza Corp. (NZ) and Novell Inc. (NOVL).
But shares fell about 4.5% in after-hours trading...
Novell: Linux Up, Security Down
[...]
Now, for Novell’s lingering problem. As the company’s open source business continues to grow the rest of Novell continues to contract.
A prime example: The VAR Guy was particularly surprised to see Novell’s Identity, Access and Compliance Management business fall 16 percent to $28 million for the quarter. Security is a growing market, folks. It’s among the top things businesses continue to invest in during the recession.
Novell announced that its Linux revenue has made a 22 per cent year-over-year increase, topping $40 million.
Comments
JohnD
2009-08-31 12:19:40