Novell fourth quarter losses narrow

Software vendor Novell has announced a slimmer quarterly loss compared with last year for its fourth quarter ending 31 October.

Net lossses hit $16m (£10.9m) compared with a net loss of $18m for the fourth fiscal quarter of 2007.

Novell reported turnover of $245m for the fourth quarter of 2008, which was flat compared with the fourth fiscal quarter of 2007.

The quarter saw Novell’s product turnover spike six per cent, which was offset by a decline in services turnover of 26 per cent – resulting in a total turnover that matched the same period last year.

For the full fiscal year, the vendor’s product revenue rose eight per cent, which was partially offset by a 20 per cent dip in services turnover. Total turnover for the full fiscal year increased by three per cent to $957m, compared with 2007.

Open Platform Solutions secured $36m in turnover of which $33m was from Linux Platform Products, up 33 per cent on the same period last year.

Ron Hovsepian, chief executive of Novell, said: “I am pleased with our fourth quarter and annual product revenue and non-GAAP operating margin results. We have substantially completed our two-year transformation, repositioning Novell as a leader in infrastructure software.

“We have a large, recurring revenue stream, a strong balance sheet, expanding partnerships and excellent products in broad and growing markets which we believe positions us well in this challenging environment.”