Corel today announced results for its second quarter ended May
31, 2000. Revenues for the second quarter of fiscal year 2000
were $36.6 million, producing a net loss of $23.6 million or
($0.36) per share. Cash at the end of the quarter stood at $9.9
million. During the same period last year, Corel reported
revenues of $70.5 million, with a net profit of $ 9.2 million or
$0.14 per share fully diluted. All figures are reported in US
currency.”
“These final numbers are consistent with what we reported last
week during the release of our preliminary second quarter results,”
said John Blaine, executive vice president of finance and chief
financial officer at Corel Corporation. “The results include some
non-recurring costs associated with our proposed merger with
Inprise/Borland Corporation and also losses of our equity
investments, offset by a gain on the sale of GraphOn shares. We
continue to work diligently towards finalizing our cost-reduction
plan but it is not complete at this time.”
“We’ve faced some challenges over the past three months but
we’ve also enjoyed some noteworthy product successes,” said Dr.
Michael Cowpland, president and chief executive officer of Corel
Corporation. “We are continuing our tradition of innovative product
development, forging strong partnerships, acquiring complementary
technologies and earning praise from the industry for our
efforts.”