Novell Inc. reports net income for its fiscal year ending Oct. 28 was $48.5 million ($1.46 per share), up 35 percent from the $35.9 million ($1.09 per share) in 1988.
The company also reported record revenue for fiscal 1989 of $422 million, up 22 percent from revenue of $347 million in fiscal 1988.In the fourth fiscal quarter net revenues were $111.0 million, the highest in the company's history, up from the $105.8 million reported in the same period last year.
Net income for the fourth quarter was $14.3 million, up from $7.2 million in 1988. Prior year net income was diminished due to a one-time hardware inventory write-down, which reduced earnings by $6.5 million. Fourth quarter 1989 earnings were 43 cents per share. In the year ago period earnings were 22 cents per share.