Struggling software developer Corel lived up to its promise Thursday, posting a slight profit in its first quarter despite weaker-than-expected sales.
Corel (Nasdaq: CORL) earned $534,000, or 1 cent a share, on sales of $32.5 million in the quarter.
First Call consensus pegged it for a loss of 1 cent a share on sales of $40 million.
Corel shares closed off 13 cents to $2.31 ahead of the earnings report.
Last week, company executives told analysts it would return a surprise profit in the quarter despite sagging sales of its WordPerfect software.
The $32.5 million in sales marks a 26 percent decline from the year-ago quarter when it lost $12.4 million, or 19 cents a share, on sales of $44.1 million.
Last quarter, it lost $8.6 million, or 12 cents a share, on sales of $40.4 million.
Corel shares moved up to a 52-week high of $12 last March before falling to a low of $1.25 in December.
More details to follow.