Computer consulting services firm Novell, Inc., a seller of popular networking software and computer consulting services experienced a loss Wednesday when its stocks fell 5.4 percent.  This drop in stocks was the result of inaccurate sales estimates in the fourth quarter.  

Computer consulting services firm Novell’s stock shares fell 34 cents and closed out at $5.99, according to the Nasdaq.  In total, stock shares have fallen 32 percent this year.

Sales for Novell also declined 15 percent compared to the previous year.  Reported sales were $244.99 million in the period that ended October 31, 2006.  Analysts say the computer consulting services firm’s sales should have reached $261.3 million based on a survey earlier in the year.

Approximately one-third of Novell’s 5,200-staff person work force in Provo have predicted that the fiscal 2007 revenue will reach $945 million to $975 million, which is less than analysts’ predictions of $999.8 million.

Fourth quarter sales for the computer consulting services firm dropped for the fourth quarter in a row, partially due to Linux’s failure to recover from falling sales of old products.  Novell remarked that the results are only preliminary, and stated the company would be reviewing stock option grants before the year’s end.  

Added By:  Computer Consulting 101