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Ottawa Citizen: Corel losses could reach $24M, company warns

Jun 16, 2000, 11:43 (2 Talkback[s])
(Other stories by Bert Hill)

"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."

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