Novell has swung to a $206m (£124m) loss for its fiscal 2009 after taking a whopping $279m impairment hit in its final quarter.
The software vendor saw revenue fall frustratingly short of the magic $1bn mark yet again for its year to 31 October. It dropped from $957m to $862m on an annual comparison.
In the fourth quarter, Novell reported a GAAP loss from operations of $259m, which included a $279m non-cash impairment charge to goodwill and intangible assets. Revenue for the quarter fell from $245m to $216m.
Much of the drop was attributable to a fall in workgroup product revenue, which was down 15 per cent to $78m on an annual comparison.
In contrast, Linux Platform Products sales grew 14 per cent to $39m compared with the same period last year. Product revenue from identity, access and compliance management fell 14 per cent to $30m, while product revenue from systems and resource management declined 10 per cent to $40m.
Without the one-off impairment charge, profits hit $38m and Novell chief executive Ron Hovsepian remained upbeat.
He said: “While it was a challenging year in terms of revenue, we worked hard to improve our cost structure, deliver innovative solutions, and expand our partner ecosystem while delivering a significant improvement in non-GAAP operating margin, which increased to 16 per cent from 10 per cent last year.”
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View photos of last night's awards ceremony in London
View photos of all the winners from the 2018 Channel Awards
After a glittering awards evening in Battersea celebrating 25 years of the Awards, we are pleased to share the list of winners and judges' commended winners