Novell gets second warning from Nasdaq

Novell Inc. of Waltham received a second noncompliance letter from the Nasdaq Stock Market due to its late fiscal 2006 annual report.

Novell received the first noncompliance notice in September because it didn't file its third-quarter report. Novell delayed filing both reports pending the completion of the view of historical stock-based compensation practices.

In January, Novell had a hearing before the Nasdaq panel regarding the first noncompliance letter. The panel granted the company's request for continued listing as long as on or before March 1, Novell provides information regarding the stock-option review, and on or before March 13, the company files its quarterly report and any necessary restatements.

Regarding the second letter, Novell has to make a new submission to the panel describing its efforts to file its annual report. The company also plans to request another extension to make that filing.

In late afternoon trading on the Nasdaq Stock market, Novell stock traded at $7.09, up 10 cents, or 1.4 percent. (Dow Jones)