Novell Inc. reported net income of $94.3 million or $1.36 per share for the fiscal year ended Oct. 27, up 94 percent from the $48.5 million or 73 cents per share reported last year.
The earnings increase came on strong growth from Novell's new NetWare 386 operating system software, the company said. Net revenue was $497.5 million for fiscal 1990, up 18 percent from last year's $421.9 million.Sales of NetWare 386, for businesswide computer networks, totaled more than $90 million. The company said it also realized more than 50 percent greater sales for NetWare products that network small work groups of up to eight computers such as PCs and Apple Macintoshes.
"We've again seen the growth of the greater network computer industry reflected in Novell's results," said Raymond J. Noorda, chairman, president and chief executive officer.
"Software sales, the key indicator of our growth, grew substantially throughout the year," he said. "Of note, the success of our new NetWare 386 product line has made it one of the most successful new software launches in the history of our industry."
Fourth quarter revenue was $140.5 million, up 27 percent from the $111 million of the previous year. Net income for the quarter was $32.6 million, up from $14.3 million. Fourth quarter earnings were 46 cents a share, compared to 21 cents per share in the 1989 fourth quarter.