Novell Excludes Press and Public From Earnings Conference Call
11/23/99 4:33:00 PM
Source: Bloomberg News
Provo, Utah, Nov. 23 (Bloomberg) -- Novell Inc., a publicly traded maker of network computer software, barred the public and the news media from a conference call with top executives it held today after reporting its fiscal fourth-quarter earnings.
The Provo, Utah-based company allowed some analysts and investors to participate in the call, but barred reporters and the public from listening. Novell said it would allow the public to listen to a recording of the call after it was over.
The exclusion means that smaller investors without access to Wall Street research aren't immediately privy to the call's detailed discussion, which at times can affect the price of the company's stock.
Novell said its fourth-quarter earnings were $74 million, or 21 cents a share, up from $42 million, or 12 cents a share, a year ago. Without a one-time tax provision, the company earned 17 cents a share, matching the estimates of analysts polled by First Call Corp., while missing the so-called ''whisper estimate'' of 18 cents a share.
Novell shares fell 1 11/16 to 22 at the 4 p.m. EST Nasdaq close. The earnings were released minutes after the close of Nasdaq trading. In trading on electronic networks after earnings were reported, shares rose 1/2 to 22 1/2. |
