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| NOVL > SEC Filings for NOVL > Form 8-K/A on 4-Mar-2009 | All Recent SEC Filings |
4-Mar-2009
Results of Operations and Financial Condition
On February 26, 2009, Novell, Inc. issued a press release reporting financial results for the first quarter of fiscal 2009. Subsequently, a transpositional error was found with respect to "Net revenue: Services" in the "Identity and Security Management" and "Systems and Resource Management" columns of the Consolidated Unaudited Condensed Segment Results Table (page 9 of 11) for the fiscal quarter ended October 31, 2008. This error caused certain other numbers to be misstated in the "Identity and Security Management" and "Systems and Resource Management" columns of the Table for the fiscal quarter ended October 31, 2008. The corrected version of that Table is set forth below.
Novell, Inc.
Consolidated Unaudited Condensed Segment Results
(in thousands, except per share data)
Fiscal Quarter Ended January 31, 2009
-----------------------------------------------------------------------------------------------------------
Identity Systems
Open Platform and Security and Resource Common
Solutions % Management % Management % Workgroup % Unallocated Total %
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Net revenue:
Software licenses $ - - $ 5,967 15.7 $ 9,136 20.1 $ 13,164 14.6 $ - $ 28,267 13.2
Maintenance and subscriptions 37,111 89.5 22,319 58.8 31,116 68.5 68,269 75.8 - 158,815 73.9
Services 4,351 10.5 9,700 25.5 5,151 11.3 8,587 9.5 - 27,789 12.9
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Total net revenue 41,462 100.0 37,986 100.0 45,403 100.0 90,020 100.0 - 214,871 100.0
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Cost of revenue:
Software licenses - - 537 1.4 832 1.8 678 0.8 479 2,526 1.2
Maintenance and subscriptions 1,849 4.5 2,007 5.3 2,833 6.2 3,514 3.9 2,696 12,899 6.0
Services 5,844 14.1 10,050 26.5 4,471 9.8 10,617 11.8 490 31,472 14.6
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Total cost of revenue 7,693 18.6 12,594 33.2 8,136 17.9 14,809 16.5 3,665 46,897 21.8
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Gross profit 33,769 81.4 25,392 66.8 37,267 82.1 75,211 83.5 (3,665) 167,974 78.2
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Operating expenses:
Sales and marketing - - - - - - - - 76,894 76,894 35.8
Product development 14,299 34.5 8,336 21.9 11,339 25.0 8,913 9.9 2,505 45,392 21.1
General and administrative - - - - - - - - 24,195 24,195 11.3
Other operating expenses - - - - - - - - 7,849 7,849 3.7
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Total operating expenses 14,299 34.5 8,336 21.9 11,339 25.0 8,913 9.9 111,443 154,330 71.8
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Income (loss) from operations $ 19,470 47.0 $ 17,056 44.9 $ 25,928 57.1 $ 66,298 73.6 $ (115,108) $ 13,644 6.3
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Fiscal Quarter Ended October 31, 2008
-----------------------------------------------------------------------------------------------------------
Identity Systems
Open Platform and Security and Resource Common
Solutions % Management % Management % Workgroup % Unallocated Total %
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Net revenue:
Software licenses $ - - $ 16,042 31.9 $ 13,650 27.3 $ 21,670 21.1 $ - $ 51,362 21.0
Maintenance and subscriptions 36,849 88.5 21,283 42.3 31,467 62.9 70,057 68.2 - 159,656 65.2
Services 4,809 11.5 12,976 25.8 4,914 9.8 11,019 10.7 - 33,718 13.8
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Total net revenue 41,658 100.0 50,301 100.0 50,031 100.0 102,746 100.0 - 244,736 100.0
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Cost of revenue:
Software licenses - - 2,036 4.0 1,210 2.4 788 0.8 757 4,791 2.0
Maintenance and subscriptions 2,476 5.9 2,701 5.4 2,789 5.6 2,547 2.5 2,352 12,865 5.3
Services 7,215 17.3 14,540 28.9 4,512 9.0 12,319 12.0 1,001 39,587 16.2
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Total cost of revenue 9,691 23.3 19,277 38.3 8,511 17.0 15,654 15.2 4,110 57,243 23.4
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Gross profit 31,967 76.7 31,024 61.7 41,520 83.0 87,092 84.8 (4,110) 187,493 76.6
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Operating expenses:
Sales and marketing - - - - - - - - 90,858 90,858 37.1
Product development 14,438 34.7 10,448 20.8 12,342 24.7 10,764 10.5 2,463 50,455 20.6
General and administrative - - - - - - - - 27,014 27,014 11.0
Other operating expenses - - - - - - - - 25,509 25,509 10.4
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Total operating expenses 14,438 34.7 10,448 20.8 12,342 24.7 10,764 10.5 145,844 193,836 79.2
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Income (loss) from operations $ 17,529 42.1 $ 20,576 40.9 $ 29,178 58.3 $ 76,328 74.3 $ (149,954) $ (6,343) (2.6)
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|
Fiscal Quarter Ended January 31, 2008
-----------------------------------------------------------------------------------------------------------
Identity Systems
Open Platform and Security and Resource Common
Solutions % Management % Management % Workgroup % Unallocated Total %
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Net revenue:
Software licenses $ - - $ 12,626 26.8 $ 7,945 18.3 $ 19,631 18.9 $ - $ 40,202 17.4
Maintenance and subscriptions 31,136 84.6 19,716 41.9 29,096 67.1 70,119 67.6 - 150,067 65.0
Services 5,663 15.4 14,688 31.2 6,298 14.5 14,008 13.5 - 40,657 17.6
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Total net revenue 36,799 100.0 47,030 100.0 43,339 100.0 103,758 100.0 - 230,926 100.0
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Cost of revenue:
Software licenses - - 1,170 2.5 714 1.6 968 0.9 247 3,099 1.3
Maintenance and subscriptions 2,127 5.8 1,825 3.9 2,611 6.0 3,456 3.3 922 10,941 4.7
Services 8,883 24.1 16,180 34.4 4,523 10.4 12,995 12.5 1,320 43,901 19.0
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Total cost of revenue 11,010 29.9 19,175 40.8 7,848 18.1 17,419 16.8 2,489 57,941 25.1
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Gross profit 25,789 70.1 27,855 59.2 35,491 81.9 86,339 83.2 (2,489) 172,985 74.9
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Operating expenses:
Sales and marketing - - - - - - - - 88,005 88,005 38.1
Product development 13,921 37.8 11,459 24.4 7,818 18.0 8,533 8.2 3,004 44,735 19.4
General and administrative - - - - - - - - 27,397 27,397 11.9
Other operating expenses - - - - - - - - 4,367 4,367 1.9
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Total operating expenses 13,921 37.8 11,459 24.4 7,818 18.0 8,533 8.2 122,773 164,504 71.2
---------- ------ ---------- ------ ---------- ------ ---------- ------ ---------- ---------- ------
Income (loss) from operations $ 11,868 32.3 $ 16,396 34.9 $ 27,673 63.9 $ 77,806 75.0 $ (125,262) $ 8,481 3.7
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Revisions were made to prior period amounts in order to conform to the current period's presentation.
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