Novell profits increase in 2010's first quarter

18:50 1st March 2010

Despite posting a slight fall in sales, network group Novell saw its profits and doubled earnings per share increase in the first quarter of 2010.

Net revenue declined to $202 millions from $215 million in the same period last year but operational income jumped by 50 per cent to $21 million, up from $14 million in 2009.

Earnings were $0.06 per share, up from $0.03 per share for the same quarter last year. Cash, cash equivalents and short-term investments racked up a total of $991 million, up from $983m in the previous quarter.

Novell chief executive Ron Hovsepian said he was pleased with the invoicing recovery in the firm's security, management and operating platforms business unit and operating margins.

In other news, robust results by the world's largest microprocessor maker Intel have brought hope to the market that the worst of the economic slowdown in the computing sector might be over.

On Friday, the company posted revenue of $10.1 billion, an increase of $2.3 billion or 28 per cent year-on-year, Intel told investors.

Written by Hannah James

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