“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.”