Novell stock tumbled after the company posted a big drop in first-quarter profit and issued a warning for the second quarter.

The maker of networking software said first-quarter net income fell to $1.8 million from $392 million in the same period last year. The company had benefited from a $448 million settlement with Microsoft last year.

Novell issued a warning that second-quarter revenue would be between $272 million and $282 million.

Novell's first-quarter revenue also fell to $274 million from $290 million.

By: DocMemory
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