Novell Reports Financial Results for Fourth Fiscal Quarter and Full Fiscal Year 2005

Novell, Inc. (NASDAQ:NOVL) today announced financial results for its fourth fiscal quarter and fiscal year ended Oct. 31, 2005. For the quarter, Novell reported revenue of $320 million, compared to revenue of $301 million for the fourth fiscal quarter 2004. Net loss available to common stockholders in the fourth fiscal quarter 2005 was $5 million or $0.01 loss per diluted common share. This compared to net income available to common stockholders of $15 million, or $0.03 per diluted common share, for the fourth fiscal quarter 2004.

On a non-GAAP basis, adjusted net income available to common stockholders for the fourth fiscal quarter 2005 was $33 million, or $0.07 per diluted common share, which excludes restructuring charges of $38 million, impairments of investments and intangible assets of $2 million and adjustments for income taxes, debt interest expense and the allocation of earnings to preferred stockholders. This compares to non-GAAP adjusted net income available to common stockholders for the fourth fiscal quarter 2004 of $25 million, or $0.06 per diluted common share, which excludes restructuring charges of $9 million and net investment impairments of $1 million.

For the full fiscal year 2005, Novell reported revenue of $1.198 billion and diluted net income available to common stockholders of $378 million, or $0.86 per diluted common share, including a $448 million net legal settlement with Microsoft. Comparatively, revenue for the full fiscal year 2004 was $1.166 billion and diluted net income available to common stockholders was $31 million, or $0.08 per diluted common share.

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