Exhibit 99.1
FOR IMMEDIATE RELEASE
February 22, 2005
Novell Reports Financial Results for First Fiscal Quarter 2005
WALTHAM, Mass. – February 22, 2005 — Novell, Inc. (NASDAQ:NOVL) today announced financial results for its first fiscal quarter ended January 31, 2005. For the quarter, Novell reported revenues of $290 million, compared to revenues of $267 million for the first fiscal quarter 2004. Net income available to common stockholders in the first fiscal quarter 2005 was $392 million, or $0.90 per diluted common share. This compared to net income available to common stockholders of $10 million, or $0.03 per diluted common share, for the first fiscal quarter 2004.
On a non-GAAP basis, adjusted net income available to common stockholders for the first fiscal quarter 2005 was $10 million, or $0.03 per diluted common share, which excludes a $448 million net gain on a legal settlement with Microsoft, $6 million of restructuring expense, a $2 million gain on a sale of property, $1 million of long-term investment impairments and the related adjustments for income taxes and the allocation of earnings to preferred stockholders. This compares to non-GAAP adjusted net income available to common stockholders for the first fiscal quarter 2004 of $11 million, or $0.03 per diluted common share, which excludes the effect of long-term investment impairments of $1 million. Full details on Novell's reported results, including a reconciliation of the non-GAAP adjusted results, are included in the financial schedules that are a part of this release.
In the first fiscal quarter 2005, foreign currency exchange rates favorably impacted total revenue by approximately $10 million year-over-year. Foreign currency exchange rates favorably impacted net income by $2 million year-over-year.
During the first fiscal quarter 2005, Novell recognized revenue of $15 million associated with its SUSE® LINUX business including $7 million of recognized revenue from subscriptions to SUSE LINUX Enterprise Server (SLES). Sales of subscriptions to SUSE LINUX Enterprise Server totaled 21,000 units in the quarter.
“Novell made steady progress on executing its strategy this quarter. We still have work ahead of us as we continue to reposition the company in our growth markets,” said Jack Messman, Chairman and CEO of Novell. “Our solid balance sheet gives us increased financial flexibility to execute strategic initiatives in the future.”
On the balance sheet, cash and short-term investments were $1.7 billion at January 31, 2005, compared with $1.2 billion at October 31, 2004. Days sales outstanding (DSO) in accounts receivable was 59 days at the end of the first fiscal quarter 2005, down from 60 days in the year ago quarter. Deferred revenues were $343 million at the end of the first fiscal quarter 2005, up $49 million or 17% year over year. Cash flow from operations was $452 million for the first fiscal quarter 2005, up from $31 million a year ago, mainly due to the net $448 million Microsoft settlement payment.
A summary of Novell’s vision, mission and strategy can be accessed on the Novell® Web site at:www.novell.com/company/ir/qresults.
Conference call notification and Web access detail
A live Webcast of a Novell conference call to discuss the quarter will be broadcast at 5PM ET February 22, 2005, from Novell’s Investor Relations Web page:http://www.novell.com/company/ir/qresults/. The domestic conference call dial-in number is 888-323-5254, password “Novell”, and the international dial-in number is +1-773-756-4625, password “Novell”.
The call will be archived on the Web site approximately 15 minutes after its conclusion, and will be available for telephone playback through midnight, March 8. The domestic toll-free replay number is 888-562-2893, and the international replay number is +1-402-530-7604.
A copy of this press release is posted on Novell's Web site at: http://www.novell.com/company/ir/qresults/.
Legal notice regarding forward-looking statements
This press release includes statements that are not historical in nature and that may be characterized as “forward-looking statements,” including those related to future financial and operating results, benefits and synergies of the company’s brands and strategies, future opportunities and the growth of the market for open source solutions. You should be aware that Novell’s actual results could differ materially from those contained in the forward-looking statements, which are based on current expectations of Novell management and are subject to a number of risks and uncertainties, including, but not limited to, Novell’s ability to integrate acquired operations and employees, Novell’s success in executing its Linux strategies, Novell’s ability to deliver on its one Net vision of the Internet, Novell’s ability to take a competitive position in the Linux industry, business conditions and the general economy, market opportunities, potential new business strategies, competitive factors, sales and marketing execution, shifts in technologies or market demand and the other factors described in Novell's Current Report on Form 10-K filed with the Securities and Exchange Commission on January 13, 2005. Novell disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
About Novell
Novell, Inc. is a leading provider of information solutions that deliver secure identity management (Novell Nsure®), Web application development (Novell exteNd™) and cross-platform networking services (Novell Nterprise™), all supported by strategic consulting and professional services (Novell NgageSM). Active in the open source community with its Ximian® and SUSE LINUX brands, Novell provides a full range of Linux products and services for the enterprise from the desktop to the server. Novell’s vision of one Net – a world without information boundaries – helps customers realize the value of their information securely and economically. For more information, call Novell’s Customer Response Center at (888) 321-4CRC (4272) or visithttp://www.novell.com. Press should visithttp://www.novell.com/pressroom.
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Novell, Nsure and Ximian are registered trademarks; exteNd and Nterprise are trademarks; and Ngage is a service mark of Novell, Inc. in the United States and other countries. SUSE is a registered trademark of SUSE LINUX AG, a Novell business. *All third-party trademarks are the property of their respective owners.
Press Contact:
Bruce Lowry
Novell, Inc.
Phone: 415-383-8408
E-Mail: blowry@novell.com
Investor Relations Contact:
Bill Smith
Novell, Inc.
Phone: 800-317-3195
E-Mail: wsmith@novell.com
Novell, Inc. Consolidated Unaudited Condensed Statements of Operations (In thousands, except per share data) Fiscal Quarter Ended --------------------------------------- Jan 31, 2005 Jan 31, 2004 ----------------- ---------------- Net revenue New software licenses $ 50,384 $ 54,769 Maintenance and services 239,744 212,338 ----------------- ---------------- Total net revenue 290,128 267,107 ----------------- ---------------- Cost of revenue New software licenses 5,269 4,922 Maintenance and services 106,782 89,954 ----------------- ---------------- Total cost of revenue 112,051 94,876 ----------------- ---------------- Gross profit 178,077 172,231 ----------------- ---------------- Operating expenses Sales and marketing 94,009 81,769 Product development 48,993 50,199 General and administrative 28,240 26,257 Restructuring expenses 6,419 - Gain on sale of property, plant and equipment (1,589) - Gain on legal settlement (447,560) - ----------------- ---------------- Total operating expenses (271,488) 158,225 ----------------- ---------------- Income from operations 449,565 14,006 Other income (expense), net 5,035 2,477 ----------------- ---------------- Income before income taxes 454,600 16,483 Income tax expense 59,439 6,348 ----------------- ---------------- Net income $ 395,161 $ 10,135 ================= ================ Net income available to common stockholders - basic $ 390,891 $ 10,135 ================= ================ Net income available to common stockholders - diluted $ 392,384 $ 10,135 ================= ================ Net income per common share: Basic $ 1.04 $ 0.03 Diluted $ 0.90 $ 0.03 Weighted average shares: Basic 377,257 378,566 Diluted 435,467 391,371 Certain reclassifications, none of which affected net income, were made to the prior period amounts in order to conform to the current period's presentation.
Novell, Inc. Consolidated Unaudited Condensed Balance Sheets (In thousands) ASSETS Jan 31, 2005 Oct 31, 2004 ----------------- ----------------- Current assets Cash and cash equivalents $ 771,844 $ 434,404 Short-term investments 886,558 777,063 Receivables, net 201,328 269,431 Prepaid expenses 30,641 25,190 Other current assets 29,847 28,846 ----------------- ----------------- Total current assets 1,920,218 1,534,934 Property, plant and equipment, net 219,835 231,468 Long-term investments 57,511 55,986 Goodwill 362,307 391,088 Intangible assets, net 59,861 48,616 Other assets 28,577 29,456 ----------------- ----------------- Total assets $2,648,309 $2,291,548 ================= ================= LIABILITIES & STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 45,903 $ 55,956 Accrued compensation 105,473 126,612 Other accrued liabilities 89,113 98,983 Income taxes payable 56,560 37,077 Deferred revenue 343,104 374,186 ----------------- ----------------- Total current liabilities 640,153 692,814 Deferred income taxes 4,640 3,855 Senior convertible debentures 600,000 600,000 ----------------- ----------------- Total liabilities 1,244,793 1,296,669 Minority interests 6,364 6,515 Preferred stock 25,000 25,000 Stockholders' equity 1,372,152 963,364 ----------------- ----------------- Total liabilities and stockholders' equity $2,648,309 $2,291,548 ================= ================= Certain reclassifications, none of which affected net income, were made to the prior period amounts in order to conform to the current period's presentation.
Novell, Inc. Consolidated Unaudited Condensed Statements of Cash Flows (In thousands) Fiscal Quarter Ended --------------------------------- Jan 31, 2005 Jan 31, 2004 --------------- --------------- Cash flows from operating activities: Net income $ 395,161 $ 10,135 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 12,895 16,152 Stock plans' income tax benefits 4,260 - Utilization of previously reserved acquired NOLs 29,000 - Gain on sale of property, plant and equipment (1,589) - Impairment of investments 1,013 1,145 Changes in current assets and liabilities, excluding the effect of acquisitions 10,907 3,589 --------------- --------------- Net cash provided by operating activities 451,647 31,021 --------------- --------------- Cash flows from financing activities: Issuance of common stock, net 4,467 28,493 Payment of cash dividends on preferred stock (250) - --------------- --------------- Net cash provided by financing activities 4,217 28,493 --------------- --------------- Cash flows from investing activities: Purchases of property, plant and equipment (5,649) (5,466) Proceeds from the sale of property, plant and equipment 10,421 - Short-term investment activity (111,706) 45,266 Cash paid for acquisition of SUSE, net of cash acquired - (200,298) Other (11,490) (107) --------------- --------------- Net cash used in investing activities (118,424) (160,605) --------------- --------------- Increase (decrease) in cash and cash equivalents 337,440 (101,091) Cash and cash equivalents - beginning of period 434,404 366,932 --------------- --------------- Cash and cash equivalents - end of period $ 771,844 $ 265,841 =============== =============== Certain reclassifications, none of which affected net income, were made to the prior period amounts in order to conform to the current period's presentation.
Novell, Inc. Unaudited Non-GAAP Adjusted Earnings Information (In thousands, except per share data) GAAP Non-GAAP As Reported Adjustments Adjusted ----------------- ---------------- ---------------- Fiscal quarter ended January 31, 2005 Net revenue $ 290,128 $ - $ 290,128 Gross profit 178,077 - 178,077 Income from operations 449,565 (442,730) (a) 6,835 Income before income taxes 454,600 (441,717) (b) 12,883 Net income 395,161 (385,095) (c) 10,066 Net income available to common stockholders - diluted 392,384 (382,547) (d) 9,837 Diluted net income per common share $ 0.90 $ (0.87) (d) $ 0.03 Fiscal quarter ended October 31, 2004 Net revenue $ 300,657 $ - $ 300,657 Gross profit 190,252 - 190,252 Income from operations 14,612 8,916 (e) 23,528 Income before income taxes 14,860 10,317 (f) 25,177 Net income 13,265 10,317 (f) 23,582 Net income available to common stockholders - diluted 14,757 10,317 (g) 25,074 Diluted net income per common share $ 0.03 $ 0.03 (g) $ 0.06 Fiscal quarter ended January 31, 2004 Net revenue $ 267,107 $ - $ 267,107 Gross profit 172,231 - 172,231 Income from operations 14,006 - 14,006 Income before income taxes 16,483 1,145 (h) 17,628 Net income 10,135 1,145 (h) 11,280 Net income available to common stockholders - diluted 10,135 1,145 (h) 11,280 Diluted net income per common share $ 0.03 $ 0.00 (h) $ 0.03 Footnotes related to adjustments: (a) Reflects a gain on a legal settlement of $447.6 million, restructuring provisions of $6.4 million and a gain on the sale of property, plant and equipment of $1.6 million. (b) Reflects the items in footnote (a) and long-term investment impairments of $1 million. (c) Reflects the items in footnotes (a) and (b) and the related tax adjustments. (d) Reflects the items in footnotes (a), (b) and (c) and the related adjustments to the allocation of earnings to preferred stockholders. (e) Reflects restructuring provisions of $8.9 million. (f) Reflects the item in footnote (e) and net long-term investment impairments of $1.4 million. (g) Reflects the items in footnotes (e) and (f), for which there were no tax adjustments. (h) Reflects long-term investments impairments of $1.1 million, for which there were no tax adjustments.
Novell, Inc. Consolidated Unaudited Condensed Statements of Operations (In thousands, except per share data) Fiscal Year Trailing Four Q1 2004 % Q4 2004 % 2004 % Q1 2005 % Quarters % ----------- -------- --------- -------- ----------- ------- -------- --------- ----------- ------- Net revenue New software licenses $ 54,769 20.5 $ 64,651 21.5 $ 238,419 20.4 $ 50,384 17.4 $ 234,034 19.7 Maintenance and services 212,338 79.5 236,006 78.5 927,498 79.6 239,744 82.6 954,904 80.3 ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Total net revenue 267,107 100.0 300,657 100.0 1,165,917 100.0 290,128 100.0 1,188,938 100.0 ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Cost of revenue New software licenses 4,922 1.8 6,859 2.3 23,478 2.0 5,269 1.8 23,824 2.0 Maintenance and services 89,954 33.7 103,546 34.4 392,201 33.6 106,782 36.8 409,030 34.4 ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Total cost of revenue 94,876 35.5 110,405 36.7 415,679 35.7 112,051 38.6 432,854 36.4 ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Gross profit 172,231 64.5 190,252 63.3 750,238 64.3 178,077 61.4 756,084 63.6 ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Operating expenses Sales and marketing 81,769 30.6 96,156 32.0 362,569 31.1 94,009 32.4 374,809 31.5 Product development 50,199 18.8 47,332 15.7 198,614 17.0 48,993 16.9 197,408 16.6 General and administrative 26,257 9.8 23,236 7.7 102,437 8.8 28,240 9.7 104,420 8.8 Restructuring expenses - - 8,916 3.0 22,903 2.0 6,419 2.2 29,322 2.5 Gain on sale of property, plant and equipment - - - - (1,977) (0.2) (1,589) (0.5) (3,566) (0.3) Gain on legal settlement - - - - - - (447,560) (154.3) (447,560) (37.6) ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Total operating expenses 158,225 59.2 175,640 58.4 684,546 58.7 (271,488) (93.6) 254,833 21.4 ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Income from operations 14,006 5.2 14,612 4.9 65,692 5.6 449,565 155.0 501,251 42.2 ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Other income (expense) Investment income 3,512 1.3 4,436 1.5 17,986 1.5 8,440 2.9 22,914 1.9 Other, net (1,035) (0.4) (4,188) (1.4) (8,704) (0.7) (3,405) (1.2) (11,074) (0.9) ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Other income (expense), net 2,477 0.9 248 0.1 9,282 0.8 5,035 1.7 11,840 1.0 ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Income before income taxes 16,483 6.2 14,860 4.9 74,974 6.4 454,600 156.7 513,091 43.2 Income tax expense 6,348 2.4 1,595 0.5 17,786 1.5 59,439 20.5 70,877 6.0 ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Net income $ 10,135 3.8 $ 13,265 4.4 $ 57,188 4.9 $ 395,161 136.2 $ 442,214 37.2 =========== ======== ========= ======== =========== ======= ========= ======== =========== ======= Beneficial conversion feature - - - - (25,680) (2.2) - - (25,680) (2.2) Allocation of earnings to preferred stockholders - - (139) (0.0) (275) (0.0) (4,145) (1.4) (4,525) (0.4) Preferred stock dividends - - (125) (0.0) (416) (0.0) (125) (0.0) (541) (0.0) ----------- -------- --------- -------- ----------- ------- --------- -------- ----------- ------- Net income available to common stockholders - basic $ 10,135 3.8 $ 13,001 4.3 $ 30,816 2.6 $ 390,891 134.7 $ 411,468 34.6 =========== ======== ========= ======== =========== ======= ========= ======== =========== ======= Net income available to common stockholders - diluted $ 10,135 3.8 $ 14,757 4.9 $ 30,816 2.6 $ 392,384 135.2 $ 414,936 34.9 =========== ======== ========= ======== =========== ======= ========= ======== =========== ======= Net income per common share: Basic $ 0.03 $ 0.03 $ 0.08 $ 1.04 $ 1.08 Diluted $ 0.03 $ 0.03 $ 0.08 $ 0.90 $ 0.99 =========== ========= =========== ========= =========== Weighted average shares: Basic 378,566 375,154 379,665 377,257 379,338 Diluted 391,371 438,106 390,324 435,467 418,470 Certain reclassifications, none of which affected net income, were made to the prior period amounts in order to conform to the current period's presentation.
Novell, Inc. Unaudited Trended Solutions Category, Business Category & Segment Revenue (In thousands) Fiscal Year Trailing Four Revenue by solution Q1 2004 % Q4 2004 % 2004 % Q1 2005 % Quarters % ------------ ------ ----------- ------ ----------- ------ ----------- ------ ----------- ------- IT software and solutions Identity-based computing Identity management & web services $ 22,472 8.4 $ 28,288 9.4 $ 101,531 8.7 $ 26,843 9.3 $ 105,902 8.9 Resource management 29,329 11.0 33,602 11.2 124,337 10.7 29,969 10.3 124,977 10.5 ------------ ------ ----------- ------ ----------- ------ ----------- ------ ----------- ------- Total identity-based computing 51,801 19.4 61,890 20.6 225,868 19.4 56,812 19.6 230,879 19.4 ------------ ------ ----------- ------ ----------- ------ ----------- ------ ----------- ------- Cross platform services Linux & platform services 77,871 29.2 84,795 28.2 349,593 30.0 82,151 28.3 353,873 29.8 Collaboration & other products 29,339 11.0 32,101 10.7 123,544 10.6 26,720 9.2 120,925 10.2 ------------ ------ ----------- ------ ----------- ------ ----------- ------ ----------- ------- Total cross platform services 107,210 40.1 116,897 38.9 473,137 40.6 108,871 37.5 474,798 39.9 ------------ ------ ----------- ------ ----------- ------ ----------- ------ ----------- ------- Total software licenses & maintenance 159,011 59.5 178,787 59.5 699,005 60.0 165,683 57.1 705,677 59.4 Worldwide services 70,763 26.5 82,689 27.5 304,848 26.1 80,396 27.7 314,481 26.5 ------------ ------ ----------- ------ ----------- ------ ----------- ------ ----------- ------- Total IT software and solutions 229,774 86.0 261,476 87.0 1,003,853 86.1 246,079 84.8 1,020,158 85.8 Celerant consulting 37,333 14.0 39,181 13.0 162,064 13.9 44,049 15.2 168,780 14.2 ------------ ------ ----------- ------ ----------- ------ ----------- ------ ----------- ------- Total net revenue $ 267,107 100.0 $ 300,657 100.0 $1,165,917 100.0 $ 290,128 100.0 $1,188,938 100.0 ============ ====== =========== ====== =========== ====== =========== ====== =========== ======= Revenue by business category New software licenses $ 54,769 20.5 $ 64,651 21.5 $ 238,419 20.4 $ 50,384 17.4 $ 234,034 19.7 Maintenance and services 212,338 79.5 236,006 78.5 927,498 79.6 239,744 82.6 954,904 80.3 ------------ ------ ----------- ------ ----------- ------ ----------- ------ ----------- ------- Total net revenue $ 267,107 100.0 $ 300,657 100.0 $1,165,917 100.0 $ 290,128 100.0 $1,188,938 100.0 ============ ====== =========== ====== =========== ====== =========== ====== =========== ======= Revenue by segment North America $ 115,760 43.3 $ 132,824 44.2 $ 514,477 44.1 $ 123,763 42.7 $ 522,480 43.9 EMEA 87,851 32.9 99,197 33.0 378,273 32.4 95,551 32.9 385,973 32.5 Asia Pacific 14,819 5.5 15,482 5.1 61,774 5.3 14,671 5.1 61,626 5.2 Latin America 5,788 2.2 5,336 1.8 21,026 1.8 5,219 1.8 20,457 1.7 Japan 5,556 2.1 8,637 2.9 28,304 2.4 6,875 2.4 29,623 2.5 Celerant Consulting 37,333 14.0 39,181 13.0 162,063 13.9 44,049 15.2 168,779 14.2 ------------ ------ ----------- ------ ----------- ------ ----------- ------ ----------- ------- Total net revenue $ 267,107 100.0 $ 300,657 100.0 $1,165,917 100.0 $ 290,128 100.0 $1,188,938 100.0 ============ ====== =========== ====== =========== ====== =========== ====== =========== ======= Certain reclassifications were made to the prior period amounts in order to conform to the current period's presentation. $13.5 million Q3 2004 payment from The Canopy Group, Inc. is recorded in Linux & Platform Services as maintenance and services revenue in North America.
Novell, Inc. Unaudited Trended Solutions Revenue by New Software Licenses and Maintenance and Services (In thousands) Fiscal Year Trailing Four Q1 2004 % Q4 2004 % 2004 % Q1 2005 % Quarters % ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- IT software and solutions Identity-based computing Identity management & web services New software licenses $ 8,075 3.0 $ 12,016 4.0 $ 40,545 3.5 $ 9,724 3.4 $ 42,195 3.5 Maintenance and services 14,397 5.4 16,272 5.4 60,986 5.2 17,119 5.9 63,707 5.4 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- 22,472 8.4 28,288 9.4 101,531 8.7 26,843 9.3 105,902 8.9 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- Resource management New software licenses 10,114 3.8 11,242 3.7 40,505 3.5 6,938 2.4 37,330 3.1 Maintenance and services 19,215 7.2 22,360 7.4 83,832 7.2 23,031 7.9 87,648 7.4 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- 29,329 11.0 33,602 11.2 124,337 10.7 29,969 10.3 124,977 10.5 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- Cross platform services Linux & platform services New software licenses 26,314 9.9 28,114 9.4 112,080 9.6 26,917 9.3 112,683 9.5 Maintenance and services 51,557 19.3 56,681 18.9 237,513 20.4 55,234 19.0 241,190 20.3 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- 77,871 29.2 84,795 28.2 349,593 30.0 82,151 28.3 353,873 29.8 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- Collaboration & other products New software licenses 10,267 3.8 13,278 4.4 45,288 3.9 6,805 2.3 41,827 3.5 Maintenance and services 19,072 7.1 18,823 6.3 78,255 6.7 19,915 6.9 79,098 6.7 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- 29,339 11.0 32,101 10.7 123,544 10.6 26,720 9.2 120,925 10.2 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- Total software, licenses & maintenance New software licenses 54,769 20.5 64,651 21.5 238,419 20.4 50,384 17.4 234,034 19.7 Maintenance and services 104,242 39.0 114,136 38.0 460,586 39.5 115,299 39.7 471,643 39.7 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- 159,011 59.5 178,787 59.5 699,005 60.0 165,683 57.1 705,677 59.4 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- Worldwide services 70,763 26.5 82,689 27.5 304,848 26.1 80,396 27.7 314,481 26.5 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- Total IT software and solutions New software licenses 54,769 20.5 64,651 21.5 238,419 20.4 50,384 17.4 234,034 19.7 Maintenance and services 175,005 65.5 196,826 65.5 765,434 65.7 195,695 67.5 786,125 66.1 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- 229,774 86.0 261,476 87.0 1,003,853 86.1 246,079 84.8 1,020,158 85.8 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- Celerant consulting 37,333 14.0 39,181 13.0 162,064 13.9 44,049 15.2 168,780 14.2 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- Total net revenue New software licenses 54,769 20.5 64,651 21.5 238,419 20.4 50,384 17.4 234,034 19.7 Maintenance and services 212,338 79.5 236,006 78.5 927,498 79.6 239,744 82.6 954,904 80.3 ----------- ------ ----------- ------ ------------ ------- ----------- ------ ----------- ------- Total net revenue $ 267,107 100.0 $ 300,657 100.0 $ 1,165,917 100.0 $ 290,128 100.0 $ 1,188,938 100.0 =========== ====== =========== ====== ============ ======= =========== ====== =========== ======= Certain reclassifications were made to the prior period amounts in order to conform to the current period's presentation. $13.5 million Q3 2004 payment from The Canopy Group, Inc. is recorded in Linux & Platform Services as maintenance and services revenue.
Novell, Inc. Major IT Software and Solutions Included Within Reported Line Items Identity-Based Computing Identity Management & Web Services > Identity Manager (DirXML) > Web Services (exteNd) > eDirectory > BorderManager > SecureLogin > iChain Resource Management > ZEN Products > Red Carpet Products Cross platform services Linux & Platform Services > NetWare > SUSE LINUX Enterprise Server > SUSE LINUX Professional > Small Business Suite > Cluster Services Collaboration & Other Products > GroupWise > Other Products Worldwide services > IT Consulting Services > Technical Support Services > Training Services