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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 reduced taxes".

"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 quarter."

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