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Corel Corporation announces first quarter fiscal 1999 results

Mar 25, 1999, 21:11 (3 Talkback[s])

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"... Revenues for the first quarter of fiscal year 1999 were $40.3 million, compared to $45.5 million in the first quarter of fiscal 1998. Net loss for the quarter was $14.6 million or $0.24 per share, compared to a net loss of $21.1 million or $0.36 per share in the same period last year..."

"With CorelDRAW 9 and WordPerfect Office 2000 scheduled for release in the latter part of the current quarter, we fully expect the company to continue on track for a successful year," said Dr. Michael Cowpland, president and chief executive officer of Corel Corporation. "We have been carefully following a solid business strategy based on efficiency and effectiveness in all our development and marketing efforts."

"This approach applies to both our current slate of world-class products as well as our emerging technology efforts in high growth areas such as Linux. We are very positive about the outlook for the balance of 1999 and beyond," added Dr. Cowpland."

Complete announcement.