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year91.rel
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1992-07-20
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Novell Fiscal 1991 Revenue Increases 29 Percent to $640.1 Million
Net Income up 72 Percent to $162.5 Million
December 9, 1991 -- Provo, Utah -- Novell, Inc. (NASDAQ:NOVL) today
reported net revenue of $640.1 million for its fiscal year ended October
26, 1991, up 29 percent from net revenue of $497.5 million in fiscal 1990.
Net income for the year was $162.5 million, up 72 percent from $94.3
million in 1990. Earnings in fiscal 1991 were $1.10 per share up from
$0.68 the previous year.
In the fourth fiscal quarter 1991, net revenue was $187.2 million, up 33
percent from the $140.5 million reported in the same period of 1990. Net
income for the fourth quarter was $50.6 million, up from $32.6 million in
1990. Fourth quarter 1991 earnings were $0.34 per share, up from $0.23 per
share the year before. Sequentially, fourth quarter 1991 revenue increased
by 11 percent over the third quarter 1991, with third to fourth quarter
sequential earnings up 18 percent.
Fiscal year revenue from software product sales rose 47 percent to $571
million, spurred by more than $300 million in sales of NetWare 3.x network
services operating system software. Total network operating system
software sales accounted for approximately 80 percent of Novell revenue.
Additional software products, including communications and database
products that support the NetWare network environment, LANalyzer network
analysis and monitoring products, and TCP/IP communications protocol
products recorded sales increases of more than 40 percent year-over-year.
International revenue grew 42 percent year-over-year to $280 million, or 44
percent of total sales. In the fourth quarter international sales reached
47 percent of total. As expected, the company realized a significant
increase in year-over-year sales from its Novell Japan, Ltd. subsidiary as
the first Japanese language version of NetWare began shipping in July 1991.
Regional European sales managed by Novell's country subsidiaries in
France, Germany and the United Kingdom account for over 70 percent of
Novell sales outside the U.S. Revenue growth in the U.S. reached 20
percent year-over-year, the highest domestic growth rate since 1988.
"1991 marks our most successful year yet in accelerating the growth of
network computing by meeting the needs of users for integrating their
computer systems," said Raymond J. Noorda, chairman, president and chief
executive officer of Novell. "We see this success in the response of
customers to our products, in the willingness of other vendors to recognize
customer needs, and in our steadily expanding partnerships with vendors
across the computer marketplace."
On the balance sheet, cash and short term investments increased by $92
million over fiscal year-end 1990, reaching $347 million at the close of
fiscal 1991. During the year, operations generated $170 million in cash.
Capital expenditures for the year reached $86.9 million, including
significant facilities expansion at the company's Provo, Utah headquarters
and a $46 million purchase of property in San Jose, California.
The company announced a two-for-one stock split to shareholders of record
as of August 12, 1991. The distribution date for the additional shares was
August 30. Earnings per share numbers for all periods referenced in this
press release reflect this stock split.
On October 28, the first business day of Novell's fiscal year 1992, Digital
Research, Inc. became a wholly owned subsidiary of Novell. Its general
purpose and specialized operating system products include DR DOS, DR
Multiuser DOS and FlexOS.
Novell, Inc., (NASDAQ: NOVL), an operating system software company, is the
developer of industry-leading network services software. Novell's NetWare
network computing products manage and control the sharing of services, data
and applications among computer workgroups, departmental networks and
business-wide information systems.