Novell Inc. reported net revenue of $134.6 million for its first quarter ended Jan. 26, 1991, up 27 percent from net revenue of $105.9 million for the comparable period in fiscal 1990.
Net income for the first quarter increased 102 percent to $30.4 million from $15.1 million posted for the same period of fiscal 1990. Net income per share was $0.42, up from $0.22 earned during the corresponding period in fiscal 1990.Software sales grew 59 percent year-over-year to account for 90 percent of total revenue during the first quarter, compared to 72 percent a year earlier. This factor, coupled with an expanding Novell product line that includes systems software products for businesswide computer networking, has continued a trend of gross margin improvement.
"The sharp rise in software product revenue this quarter reflects increased customer demand for our high-end, businesswide network computing products. We are seeing the results of NetWare having become a market standard for network computing," said Raymond J. Noorda, chairman and president.
Novell develops NetWare systems software products that manage and control the sharing of data across a variety of network computing environments, including computer workgroups, departmental networks and businesswide information systems.