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Ottawa Citizen: Corel confirms results for skeptical analysts

Jun 24, 1999, 21:56 (0 Talkback[s])

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"Corel Corp. is on the path to recovery, but how far and how fast it will go is still a big question.

"Executives of the Ottawa software company formally released results yesterday for the quarter ending May 31 , and they were the best numbers in almost four years."

"Mr. Cowpland helped send Corel stock soaring last week when he told an industry group that sales of the major new product lines were growing rapidly. Corel was forced to put out an unusual early announcement on Friday detailing most of the quarterly results in a bid to calm the speculation."

"Corel said it was poised for profits the rest of the year, in part because it had dramatically cut costs -- about 22 per cent over the previous year -- and restructured operations."

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