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

To: EPS who wrote (22431)	6/2/1998 11:35:00 PM
From: DJBEINO	Respond to of 42771

Networking-Software Maker Novell Names New Finance Chief June 02, 1998 PROVO, Utah -(Dow Jones)- Novell Inc. Monday named Dennis Raney senior vice president and chief financial officer, the latest in a string of top-level management changes in the past year at the recovering networking-software maker. Raney joined Novell (NOVL) as interim chief financial officer in March, replacing James Tolonen, who resigned to become president and chief operating officer of CyberMedia Inc., a developer of utilities and antivirus software. Before stepping into Tolonen's shoes at Novell, Raney had been chief financial officer at QAD Inc., which makes enterprise resource-planning and supply-chain management software. The well-traveled Raney also had been CFO at General Magic Inc. and California Microwave Inc. and held financial posts at Bristol-Myers Squibb Co. and Hewlett-Packard Co. Tolonen's resignation followed the departure last June of President and Chief Operating Officer Joseph Marengi, who then signed on with Dell Computer Corp. as a senior vice president. Marengi had been expected to go since Eric Schmidt left Sun Microsystems Inc. to become Novell's chairman and chief executive in March of 1997. Schmidt, who assumed Marengi's duties as president and operating chief, began an intense restructuring to cut costs and brought in some managers of his own choosing. Novell has seen its dominant position in networking software erode somewhat as Microsoft Corp. has mounted a long-term attack with Windows NT. Novell has switched gears and concentrated on rebuilding its products around the standard protocol of the Internet. The restructuring efforts appear to be paying off, as Novell last month reported fiscal second-quarter net income of $19.3 million, or five cents a share, beating Wall Street's estimate, on revenue of $262.3 million.