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NOVELL REPORTS 35 PERCENT INCREASE IN INCOME OVER ’88

SHARE NOVELL REPORTS 35 PERCENT INCREASE IN INCOME OVER ’88

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.