Novell Posts Q1 Loss

Novell Inc., a leading networking software manufacturer, issued a first-quarter fiscal loss as it had a net loss of $11.9 million. Revenues were $260 million, down from $277.9 million the previous year period. For the previous first quarter of 2002, Novell had net income of $8.4 million. Novell blamed the weakened U.S. economy, the threat of war with Iraq and the unsettled information technology market, and said that these factors will impact its ability to predict revenues and earnings for its upcoming Q2 or even its fiscal year end. Revenues were a weaker-than-expected $260 million.

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