shares plunged on narrowed profits and falling revenue for both the fiscal quarter and year. In its results -- called preliminary because of an ongoing internal stock option grant investigation -- the software maker posted non-GAAP income, excluding items, of $20 million, or 5 cents a share. This beat estimates by a penny a share for the quarter ended Oct. 31, but it also represents a drop of 2 cents a share from the company's $32.2 million income a year ago. Revenue fell 14% to $245 million, and fiscal 2006 sales dropped to $967.3 million from $1.04 billion a year ago.
Looking ahead, Novell said revenue for fiscal 2007 should range from $945 million to $975 million, somewhat below Wall Street's $1 billion expectations. The company issued guidance that called for an operating margin of 5% to 7% next year, and 12% to 15% in 2008, which would be a tremendous jump from this year's 1% figure. For now, though, shares were down 63 cents, or 10%, to $5.70.
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posted a gain in third-quarter profits, but shares fled downward on disappointing revenue. For the quarter ended Oct. 28, the salvaged-vehicle services company earned 34% more than it did a year ago -- $30.3 million, or 32 cents a share, beating estimates by 2 cents a share. Revenue, however, grew only 13% to $132.1 million, trailing just behind the $136.13 million consensus estimate. Shares were down $1.72, or 5.6%, to $28.76.