Novell Tops Estimates

SAN FRANCISCO -- Novell(NOVL Quote) beat first-quarter expectations Thursday and raised full-year top-line guidance.

The company reported revenue of $230.9 million, up 5.7% from revenue of $218.4 million for the same period a year ago. Analysts were expecting a top line of $224.8 million, according to Thomson Financial.

Net income was $16.8 million, or 5 cents a share, vs. a loss of $19.9 million, or 6 cents a share, in the year-ago period when the company reported $13.1 million of expenses due to restructuring costs and a review of stock-based compensation.

Excluding items, EPS was 8 cents, three cents better than analysts' estimates.

The stock was up 32 cents, or 4.9%, to $6.86 in after-hours trading.

For the full year, Novell raised revenue guidance to a range of $940 million to $970 million, from previous estimates for a top line of $920 million to $945 million, according to Thomson. Analysts were expecting revenue of $933.6 million.

Revenue from Linux Open Platform products grew 65% year over year, to $28 million, the company reported.