Jack Messman, president and chief executive officer of Novell said, These are challenging times for all of us. We are confident for the longer term, with Novell maintaining a very strong market position as a leading provider of software required for securing and managing eBusiness, corporate and government network solutions worldwide.
Novell will make stock repurchases from time-to-time, in the open market, through block trades or otherwise. The company began making share repurchases under the reauthorization on September 17. Stock repurchase is one aspect of Novell’s overall management of its cash assets. The company is being cautious to maintain a strong cash balance in its business. Depending on market conditions and other factors, these purchases may be commenced, or suspended, at any time or from time-to-time without prior notice. Novell has approximately 360 million shares outstanding.
SOURCE: COMPANY PRESS RELEASE
