WALTHAM, Mass., Dec. 2, 2010 /PRNewswire-FirstCall/ -- Novell, Inc. (Nasdaq:
NOVL) today announced financial results for its fourth fiscal quarter and full
fiscal year ended October 31, 2010. For the quarter, Novell reported net revenue
of $207 million. This compares to net revenue of $216 million for the fourth
fiscal quarter of 2009. GAAP income from operations for the fourth fiscal
quarter of 2010 was $22 million. This compares to GAAP loss from operations of
$259 million for the fourth fiscal quarter of 2009, which included a $279
million non-cash impairment charge to goodwill and intangible assets. GAAP net
income in the fourth fiscal quarter of 2010 was $322 million, or $0.91 per
share, which included $308 million in non-cash tax provision benefits,
principally to release a valuation allowance for certain net deferred tax
assets. This compares to a GAAP net loss of $256 million, or a $0.74 loss per
share, for the fourth fiscal quarter of 2009. Foreign currency exchange rates
favorably impacted net revenue by $1 million, operating expenses by $1 million
and income from operations by $2 million compared to the same period last year.
On a non-GAAP basis, income from operations for the fourth fiscal quarter of
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