Novell reports loss for second quarter

Novell has reported a US$55 million loss for its second quarter, due to the sale of its WordPerfect line to Corel Corp. and a US$225 million reduction in channel inventory, company officials have announced.

For the quarter that ended on April 27, Novell posted sales of US$188 million, compared to US$530 million during the same period one year ago, officials say. Its loss of US$55 million compares to a profit of US$95 million one year ago.

For the first six months of its fiscal year, Novell reported sales of US$626 million and net income of US$8 million, compared to US$1.2 billion and US$177 million during the same period last year.

Last year's sales include revenue from the UnixWare and WordPerfect product lines, both of which Novell sold this year to focus on its networking offerings, company officials say.

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