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National Post: Corel Corp. reports $10.7 million US loss, mostly tied to costs of restructuring

Sep 28, 2000, 00:14 (0 Talkback[s])

"Corel Corp. had a $10.7 million US net loss for its third quarter, including about $6.2 million in one-time charges related to a restructuring at the troubled software company."

"Revenues for the three months ended Aug. 31 were $36.4 million, about on a par with the previous quarter but only about half the $71.3 million in revenues the company took in a year earlier. 'Our third quarter results demonstrate our previously-announced cost-restructuring plan is already having an impact on our bottom line,' said John Blaine, Corel's chief financial officer...."

"During the second quarter, ended May 31, Corel reported revenues of $36.6 million and a net loss of $23.6 million, or $0.36, per share."

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