Novell 3Q revenue declines and misses expectations

Novell IncLeading networking software maker Novell Inc. has announced its second quarter financial results for the fiscal year 2010-11. The company has said that there has been a decline in its net income and revenue in the quarter under review.

The net income of the firm was recorded $15.7 million during these three months which is fall down of 4 cents per share. For the similar quarter last year, the company has posted a net income of $16.7 million or 5 cents per share.

Novell Inc. has posted an earning of 6 cents per share for the quarter which has seen a massive decline this year against its like period last year. Earlier the analysts have estimated that the company may post an earning of 7 cents per share for this quarter.

The revenue of the company has gone down by 8% and was recorded Rs $199 million during the reviewed quarter. It was reported to be $216 million for its corresponding quarter last year and was estimated to be $200 million for the said quarter.