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December 2, 2009

Novell Q4 net revenues down 12% to $216m

Expects revenues to be between $200m and $210m for Q1 FY10

By CBR Staff Writer

Novell has reported net revenues of $216m for the fourth quarter of 2009, down 12% compared to net revenues of $245m in the same period last year. Revenues for the FY09 decreased to $862m from $957m last year.

Loss from operations for the fourth fiscal quarter of 2009 was $259m, compared to $6m in the same period last year. The GAAP loss includes a $279m non-cash impairment charge to goodwill and intangible assets.

The company posted a net loss of $256m in the fourth fiscal quarter of 2009, or $0.74 loss per share compared to net loss of $16m, or $0.05 loss per share, in the same period last year. Net loss for FY09 was $213m, or $0.62 loss per share, compared to a net loss of $9m, or $0.02 loss per share, for FY08.

For the fourth quarter, Novell reported $41m of product revenue from Open Platform Solutions, of which $39 million was from Linux Platform Products, up 14% compared to product revenue from Linux Platform Products in the same period last year. Product revenue from Identity and Security Management was $32m, Systems and Resource Management accounted for $40m, while revenue from Workgroup product was $78m.

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Ron Hovsepian, president and CEO of Novell, 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% from 10% last year.

The company expects revenues for the first quarter to be between $200m and $210m and expects an Invoicing growth.

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