Novell swings to a quarterly profit

Business software maker Novell Inc. swung to a profit in its fiscal first quarter, aided by rising maintenance and subscription revenue and lower operating expenses.

The Waltham company also raised its 2008 revenue outlook.

Novell shares rose 34 cents, or 5.2 percent, to $6.88 in after-hours trading, after finishing regular trading down 24 cents, or 3.5 percent, at $6.54.

For the quarter, Novell earned $16.8 million, or 5 cents per share, compared with a loss of $20 million, or 6 cents, a year earlier. On an adjusted basis, Novell earned 8 cents per share.
(AP)