Excelan Inc., target of a friendly takeover by Utah's Novell Inc., reported first quarter net income of $645,000 on $20.93 million in revenues.
While revenues for the quarter ending April 2 were up 58 percent from the first quarter last year, Excelan officials said net income was down from $1.35 million for the same 13-week period in 1988.The San Jose-based company specializing in computer local area network technology said expenses related to the pending merger with Provo-based Novell, reduced net income by $320,000.
The Excelan-Novell merger is pending. If the takeover is completed, Excelan would become a wholly owned Novell subsidiary. Excelan stockholders were scheduled to vote on the proposed merger during their annual meeting expected before the end of June 1989.
Excelan produces networking software and hardware to unify computer resources across a broad range of dissimilar systems, including the Apple Macintosh and IBM PCs.