Select A Section --------------------------------------- Table of Contents --------------------------------------- Corporate Profile --------------------------------------- Chairman's Letter Financial Highlights --------------------------------------- SCALABLE, Altavista | Compaq Computer Corporation SECURE, America Online, Inc. CHOICE, Sun Microsystems, Inc. POWER, Red Hat, Inc. MANAGE, Peoplesoft INTEGRATED, Lucent Technologies OPEN, Oblix Inc. --------------------------------------- Selected Consolidated Financial Data Management's Discussion and Analysis Consolidated Statements of Operations Consolidated Balance Sheets Consolidated Statements of Shareholders' Equity Consolidated Statements of Cash Flows Notes to Consolidated Financial Statements Report of Ernst & Young LLP, Independent Auditors Selected Consolidated Quarterly Financial Data --------------------------------------- Directors and Executives Office Locations Corporate Directory Contact Novell Annual Meeting

						Oct. 31 1999				Oct. 31 1998				Oct. 31 1997				Oct. 26 1996				Oct. 28 1995
	STATEMENT OF OPERATIONS
	Net Sales					$	1,272,820			$	1,083,887			$	1,007,311			$	1,374,856			$	2,041,174
	Gross Profit					986,799				835,270				718,694				1,058,027				1,540,695
	Income (loss) from operations					223,052				98,446				(200,004)				108,944				452,109
	Income (loss) before taxes					243,836				141,634				(150,570)				179,988				508,729
	Income tax expense (benefit)					53,089				39,658				(72,274)				53,997				170,424
	Net income (loss)					190,747				101,976				(78,296)				125,991				338,305
	Net income (loss) per share
		Basic				$	.57			$	.29			$	(.22)			$	.35			$	.92
		Diluted				$	.55			$	.29			$	(.22)			$	.35			$	.90
	BALANCE SHEET
	Cash and short-term investments					$	895,404			$	1,007,167			$	1,033,473			$	1,024,755			$	1,321,231
	Working capital					895,984				1,021,005				1,148,426				1,225,987				1,464,237
	Total assets					1,942,319				1,924,112				1,910,649				2,049,466				2,416,830
	Shareholders' equity					1,492,241				1,493,498				1,565,417				1,615,509				1,938,262

See the results of operations for discussion of data comparisons.
Copyright © 2000