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Novell Q1 Profit Rises - Quick Facts

Novell, Inc. (NOVL) Thursday reported first quarter GAAP net income of $20 million or $0.06 per share, compared to $11 million or $0.03 per share in the prior year period. Non-GAAP net income for the quarter was $25 million or $0.07 per share, compared to $24 million or $0.07 per share in last year quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share. Analysts' estimates typically exclude special items.

Net revenue for the quarter was $202 million, compared to $215 million in the year-ago period. Eight Wall Street analysts expected revenues of $207.64 million.

The company said the first fiscal quarter of 2010 results included a $5 million change in accounting estimate related to fiscal 2009 sales compensation that increased profitability in the first fiscal quarter of 2010.

Looking forward, for the second quarter, the company expects net revenue to be similar to first fiscal quarter of 2010 revenue levels.

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