Novell Inc. (NASDAQ: NOVL), which sells computer-networking software and technology services, posted a larger quarterly loss Thursday, hurt by lower revenue and hefty charges to write down the value of certain assets, according to Associated Press.
For the three months ended Oct. 31, the company posted a loss of $255.7 million, or 74 cents per share, compared with a loss of $16.3 million, or 5 cents per share, in the same period a year earlier.
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Excluding items, most notably a $279 million impairment charge, the company earned $38 million, or 11 cents per share, in the latest quarter.
Revenue fell 12 percent to $215.6 million from $244.7 million.
Analysts, on average, were expecting a profit of 7 cents per share on sales of $215.7 million, according to a poll by Thomson Reuters.
The company said the year was a challenging one in terms of revenue, but the company worked to improve its cost structure. Novell forecast revenue of $200 million to $210 million for the current quarter, which is below analysts' expectations of $214.2 million.
For the full year, Novell posted a loss of $212.7 million, or 62 cents per share, compared with a loss of $8.7 million, or 4 cents per share, in the previous year. Adjusted earnings totaled 34 cents per share.
Revenue fell 10 percent to $862.2 million from $956.5 million.
Shares fell 14 cents, or 3.5 percent, to $3.90 in after-hours trading, having closed earlier up 4 cents at $4.04.
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