Business software maker

Novell

(NOVL)

was down 10.9% in preopen

Island

trading.

After the close Thursday, the company said the second quarter's revenue would be even with the first quarter's and 2001 revenue would be down as much as 16% from the previous year.

Novell also posted a first-quarter profit of 1 cent a share, ahead of the Street's estimate of a break-even result but down from the year-earlier 13 cents.