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Ottawa Citizen: Corel draws on MS deal to turn profit, software sales slump continues

Mar 23, 2001, 16:30 (8 Talkback[s])
(Other stories by Bert Hill)

"Corel Corp. said yesterday that sales fell 26 per cent last quarter but it will still make a profit, thanks to an investment by former rival Microsoft."

"The software company said yesterday that interest income from the $135-million investment will allow it turn an operating loss of about $1.5 million into a profit of about $500,000."

"...Despite the surprisingly good bottom-line results -- Corel wasn't expecting a profit for six more months -- sales of its traditional products remain in trouble. Corel said it will report sales of only $32.5 million for the quarter ending Feb. 28, a 26- per-cent decline from a year earlier and down 20 per cent from the November quarter."

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