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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (31861)	5/23/2000 6:36:00 PM
From: Captain Jack	Respond to of 42771

Showing 9 1/32 on headlines that even sound good,,,,, Unless you read the article! Maybe now they have stopped saying "NOVL a leader... " as it sure as hell is no longer true. New York, May 23, 2000 (123Jump via COMTEX) -- Novell (NOVL) announced Tuesday that for the second quarter ended April 30 the company posted net income that fell to $31 million, or $.09 per share on a diluted basis; this is compared to $38.7 million, or $.11 per share in the year ago quarter. Excluding a one-time $35 million royalty from Caldera Systems (CALD), which added $.07 per share to earnings, Novell earned $.02 per share - this beat Wall Street estimates by $.01. The payment from Caldera Systems stems from Caldera's recent settlement of a lawsuit against Microsoft (MSFT). Revenues fell to $302 million, down from $316 million in the year ago quarter. Before the company's profit warning in early May, analysts had predicted revenue of $359 million. Novell struggled to cope with key sales management defections several months back. These personnel departures are said to have cost the company roughly $50 million in lost sales. Problems with the sales management as well as increased competition led the company to issue the May 2 profit warning. In the last two months, shares of Novell have lost 70% of its value. The company's net services applications had a 9% year-over-year gain to $79 million. Packaged software sales like the NetWare server came in at $115 million, a 32% decline from the year-ago quarter. Novell provides network software enabled by directory services. The company's Internet solutions help make networks more secure and more manageable while reducing the total cost of ownership.