Novell's 4Q loss narrows in line with Street

WALTHAM, Mass. - Software maker Novell Inc. said Thursday its loss for the fiscal fourth quarter narrowed, meeting Wall Street estimates.

The company said its loss for the three months ended Oct. 31 was $16.3 million compared with $18 million in the year-ago period. The per-share loss was flat at 5 cents, as the most recent quarter had fewer shares outstanding.

The company said its loss included a $14 million impairment charge related to auction-rate securities. Excluding one-time charges and discontinued operations, Novell said it earned $20 million, or 6 cents per share, in line with the average Street estimate, according to polling by Thomson Reuters.

Revenue was essentially flat at $244.7 million, from $244.9 million a year ago. Analysts, on average, were looking for $249.8 million.

Novell said product sales grew by 6 percent but were offset by services revenue, which declined by 26 percent.

For the full fiscal year, Novell posted a narrower loss of $8.7 million, or 2 cents per share, on revenue of $956.5 million.

The company's shares climbed 22 cents, or 5.8 percent, to $4.04 in late trading after closing down 26 cents, or 6.4 percent, at $3.82 during regular trading.

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