“More layoffs, spending cuts and sales of some products could be
on the way for troubled Corel Corp. after it revealed more red ink
yesterday.”
“Analysts said the software company will have to take tougher
action on costs as Corel sales plunged to the lowest level since
1994.”
“Corel Corp. warned that sales in the quarter ending May 31 were
only $37 million to $38 million, or 48 per cent lower than a year
earlier.”
“The software company said it expects to report a loss of
$22 million to $24 million next Tuesday when it releases complete
results — up to $5 million worse than originally
anticipated.“