Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Elmo Gregory who wrote (7713)	2/9/1997 3:33:00 PM
From: E_K_S	of 42771

Hi Elmo - You may have an answer to my question of perhaps SALAH....What impact will the strong dollar play on Novell's foreign earnings segment? We already know that these foreign sales lagg the domestic sales by two quarters. The dollar has appreciated by 50% against the YEN in last 18 months as well as many other foreign currencies! IMO the impact will be lower effective margins. Perhaps down to 25% from the 35% level. This will futher translate to lower (U.S. dollar equivalent) earnings in Q2 and Q3 as long as the dollare remains at these high levels. This effect will impact Microsoft as well but I think it is worth more discussion. Have I got the right take on this? EKS

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