Financial Post: Corel shows glimmer of hope with $9.2M profit
Jun 24, 1999, 22:04 (2 Talkback[s])
(Other stories by Jill Vardy)
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"New software products: Recent restructuring trimmed costs and
"Corel reported a profit of $9.2-million, or 14 cents a share,
(all earnings figures in U.S. dollars) in the quarter ended May 31.
"I believe that is sustainable and I hope we can grow that number,"
said Michael O'Reilly, Corel's chief financial officer."
"The restructuring that closed Corel's engineering office in
Orem, Utah, last year and the sale of several of Corel's business
units have substantially trimmed engineering costs at the company.
Those costs may creep up over the balance of the year as Corel
works on versions of its software in the Linux operating system,
Mr. O'Reilly said.
"Advertising costs, meanwhile, fell over the course of last
year, but are temporarily edging up to promote the new versions of
CorelDraw and WordPerfect software released during the second