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Novell Q2 2010 Earnings Call Transcript

Novell (NOVL)

Q2 2010 Earnings Call

May 27, 2010 5:00 pm ET

Executives

Ronald Hovsepian - Chief Executive Officer, President and Executive Director

Dana Russell - Chief Financial Officer, Principal Accounting Officer and Senior Vice President

Robert Kain -

Analysts

Brian Wallins - Broadpoint Capital

Katherine Egbert - Jefferies & Company, Inc.

Jonathan Doros - UBS

Brad Zelnick - Macquarie Research

Mark Murphy - Piper Jaffray Companies

Richard Williams - Cross Research

Presentation

Operator

Good afternoon. My name is Michelle, and I will be your conference operator today. At this time, I would like to welcome everyone to the Novell Second Quarter 2010 Financial Earnings Release. [Operator Instructions] Mr. Kain, you may begin your conference.

Robert Kain

Thank you. Good afternoon, everyone, and thanks for joining us. I'm Rob Kain, Vice President of Investor Relations for Novell. And with me today from our executive offices in Waltham, Massachusetts are Ron Hovsepian, President and Chief Executive Officer; and Dana Russell, our Chief Financial Officer.

We are here this afternoon to discuss Novell's financial results for the second fiscal quarter 2010. If you don't yet have our press release, you can access it by visiting our Investor Relations webpage at www.novell.com/company/ir. This call is also being broadcast through our website and will be archived on our website for a minimum of 12 months.

Before I turn the call over to Dana, I would like to take a moment to say that we will be providing non-GAAP financial measure during today's call. We believe that these measures enhance an overall understanding of our current financial performance and prospects for the future and enable investors to evaluate our performance in the same way that management does. Management uses these same non-GAAP financial measures to evaluate performance, allocate resources and determine compensation. The non-GAAP financial measures do not replace the presentation of our GAAP financial results, but they eliminate expenses and gains that are excluded from most analysts' consensus estimates that are unusual and/or that arise outside of the ordinary course of business such as, but not limited to, those related to stock-based compensation, acquisition-related intangible asset amortization, restructuring, asset impairments, litigation judgments and settlements, strategic alternatives review and the sale of business operations, long-term investments and property, plant and equipment. We have included reconciliations for these non-GAAP measures to the most directly comparable GAAP measures in our earnings release. As I mentioned, a copy of that release is on our website.

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