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Novell posted stronger sales and sharply higher profits for its fiscal fourth quarter, which ended Oct. 31. For the full fiscal year, sales also rose, and the networking company turned a profit compared with its year-earlier loss.
Fourth-quarter revenue was $298 million, up 11% from $269 million the year earlier. Net income totaled $42 million, a fivefold increase from the marginal $7 million profit posted in the year-earlier period. Per-share net income came in at 12 cents, fully diluted, compared with 2 cents last year.
For the year, sales were $1.08 billion, up 8% from $1.01 billion in the fiscal year ended Oct. 31, 1997. Novell posted a profit of $102 million, compared with a loss of $78 million last year. Per-share profit was 29 cents, compared with a 22-cent loss the year earlier. The year-earlier results include a restructuring charge of $55 million, or 10 cents a share.
Novell's healthy fourth-quarter results reflected high sales to customers deploying large networks, including Novell Directory Services software, the company says. Major account license programs were up 53% in the quarter from the year earlier, to $152 million.
The balance sheet stayed strong. Cash and short-term investments totaled $1.01 billion, compared with $1.03 billion at the end of fiscal 1997.
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