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Novell Announces Change in Expected Second Fiscal Quarter Results Provo UT., -- April 22, 1997 -- Novell, Inc. (Nasdaq: NOVL) said today that for its second fiscal quarter ending April 30, 1997, it currently expects to report between $300 and $335 million in revenue, down from the $375 million achieved in the first fiscal quarter of 1997. Within this revenue range Novell expects to report a slight profit. The company's estimates of both revenue and profitability are forward looking, based on current expectations, and actual results may differ materially due to risks, uncertainties and other factors. Factors that could cause actual results to differ materially from projected statements include order rates from large customers, product mix, end-user market demand, competitive products and pricing, technology change and other issues addressed in Novell's form 10-K and 10-Q filings. Early reports indicate that sales, particularly to small and medium businesses, from Novell OEM's and distributors of boxed software products, are lower than previously expected for the second fiscal quarter. Sales through the company's multi-product license programs continue strong, reflecting strength in the large network enterprise market. Eric Schmidt, Novell chairman and CEO, said, "We are going to do a thorough business review in light of this information. We will make the changes necessary to better manage and control Novell's business, including setting appropriate levels for operating expenses and product inventories in the distribution channel. I intend to make certain that Novell's resources and priorities are tuned to fully revitalize this company. "We are strengthening Novell's business with new Internet products. The product path we are on is replacing Novell's older business with an Internet future that I came to help create." The announcement today does not address actual results for Novell's second fiscal quarter 1997. Actual results for the company are expected to be announced on Wednesday, May 28. Founded in 1983, Novell (NASDAQ:NOVL) is the world's leading provider of network software. The company offers a wide range of network solutions, education and support for distributed network, Internet, intranet and small business markets. Information about Novell's complete range of products and services can be accessed on the World Wide Web at http://www.novell.com. Novell is a registered trademark of Novell, Inc.
Press Contacts:
Jonathan Cohen |
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