Software maker Corel reported net income of $500,000 for its fiscal third quarter ended Aug. 31, profitable but a penny short of analyst expectations. The company had revenue of $34.2 million for the quarter, compared with $36.4 million for the year-ago quarter. Analysts surveyed by First Call expected net earnings of 2 cents a share.
Corel sold off its efforts to create an easy-to-use version of Linux to Xandros in August in exchange for a 5 percent stake in the start-up and a 2 percent stake in its parent company, Linux Global Partners. Corel now is emphasizing more traditional products such as graphics software.