Late today from DJ News - sounds good to me - Bye
5:25 Novell Rebound -2-: Chmn Says Novell Turnaround Co. >NOVL
SAN FRANCISCO (Dow Jones)--Novell Inc. (NOVL) said it expects a rebound in
German sales in its fiscal second quarter, Chairman Joe Marengi said.
The Orem, Utah, company also anticipates overall sequential growth in
revenue for the quarter, Marengi said at the Robertson Stephens & Co.
technology conference here.
Novell disappointed Wall Street with its first-quarter results, released
Wednesday, with earnings of 15 cents a share when the Street was looking for
18 cents.
The company said weakness in Europe and Japan resulted in a slight
sequential decline in revenue. Its shares recently were off 2 1/4, or 17.5%,
to 10 5/8 on Nasdaq volume of 11.5 million, compared with average daily volume
of 3.6 million.
''This is a turnaround company now,'' Marengi said. ''We hit a speed bump in
the road. I think we have a great future.''
Marengi went on to say the company was down to a ''short list'' of
successors to Chief Executive Robert Frankenberg, who stepped down in August.
Marengi declined to comment further on the selection process.
He said, however, that Novell has the goal of doubling the number of servers
that run its software by 2000 to 8 million servers from 4 million now. He
estimated that there will be 17 million servers in use world-wide by 2000.
Even so, the company wants server software sales to account for 40% of
revenue by the start of the new century, down from 65% today. |
