Novell revenues jump 22 percent

Software vendor Novell on Tuesday reported a 22 percent jump in Asia-Pacific sales revenue for its first fiscal quarter, compared with the same quarter in 2003.
 
Its Australian and New Zealand subsidiaries also reported an 18 percent revenue increase for the quarter ending 31 January due to increased demand for secure identity management and IT resource management software, according to Novell Asia-Pacific president Rhonda O'Donnell.
 
'Novell has won many major contracts for secure identity management projects including implementations at Telecom NZ and MBF,' O'Donnell said.
 
Globally, the company reported revenues of US$267 million for the quarter, compared to revenues of US$260 million in the same quarter last year.
 
Net income in Q1 was US$10 million, or US$0.03 per share. This compared to a net loss of US$12 million or a US$0.03 loss per share during the same quarter in 2003.
 
Cash and short term investments were US$605 million at the end of the quarter, compared with US$651 million a year ago, the company said.
 
The decline was attributed to the cash payment to SUSE Linux shareholders connected with the previously announced acquisition, offset by positive cash flow, including cash flow from operations during the quarter of US$31 million, the company said.