Novell shares fall on drop in Linux-products revenue (CentreDaily.com)
[Posted June 1, 2006 by cook]
CentreDaily.com
reports on a drop in Novell's stock price.
"
Novell Inc. stock plunged Thursday after the networking-software maker said second-quarter revenue from Linux products had slipped from the previous quarter. At midday, Novell shares dropped $1.35, or 17.5 percent, to $6.38 on the Nasdaq Stock Market. The amount of the revenue decline was not specified in a conference call held Wednesday after the financial markets closed.
``We're signing a lot of longer-term contracts where the revenue recognition gets pushed out,'' Chairman and Chief Executive Jack Messman said."
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