Novell chief predicts stormy weather in 2001

NEWS Revenues dropped 22 per cent from the same quarter last year to $245m, compared to $316m in Q1 2000. The company posted a pre-tax operating loss of S$13.2m - a gain of over one cent per share. In a conference call, Dennis Raney, CFO of Novell, blamed the sales downturn on an overall reduction in IT expenditure. He predicted that revenues for 2001 will be "just over" $1bn, compared to $1.16bn last year. Irene Binial, reporter, silicon.de