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Novell says profit is up but revenue is down

Associated Press / May 29, 2010

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WALTHAM — Networking software maker Novell Inc. said its fiscal second-quarter profit climbed, helped by lower operating costs even as revenue declined.

For the three months ended April 30, the company earned $19.9 million, or 6 cents per share, up 28 percent from $15.6 million, or 5 cents per share, in the same period a year earlier.

The company had more outstanding shares in the latest quarter, which lowers per-share results.

Excluding items, Novell earned 7 cents per share. Revenue fell 5 percent to $204 million from $215.6 million.

Analysts, on average, were expecting a profit of 7 cents per share, excluding items, on revenue of $204.9 million, according to a poll by Thomson Reuters.

Operating costs fell 7 percent to $142.8 million.

The company forecast revenue of $205 million and $210 million for the current quarter. Analysts are predicting $210.1 million.