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Inter@ctive Investor: Corel plunges on 4Q profit warning

Dec 22, 1999, 17:00 (3 Talkback[s])
(Other stories by Larry Dignan)

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"Corel Corp. (Nasdaq: CORL), which recently hit a 52-week high of 44 1/8 on Linux hype, fell 4 13/16 to 13 3/4, or 25 percent, after it shocked investors Wednesday with a profit warning."

"The company sees a fourth quarter loss of 14 cents a share. Wall Street was expecting a profit of 12 cents a share...."

"While we are disappointed by the preliminary results, we are pleased that we are still able to deliver a profitable year," said Michael Cowpland, Corel CEO, in a press release. "We are confident that our leadership in the exciting, fast-growth Linux market and new Web-based initiatives will put us in good standing for the year ahead."

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