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Corel posts profit

Software maker Corel reported on Wednesday a profit for the second quarter in a row. The company earned $2.3 million, or 2 cents per fully diluted share, for its second fiscal quarter that ended May 31. That compares with a loss of $23.6 million, or 36 cents per share, in the same quarter last year. Revenue for the quarter was $36 million, compared with $36.6 million for the same quarter last year. "This is the second consecutive quarter that we have posted a profit--a significant achievement, especially given the current economic uncertainty," John Blaine, Corel's chief financial officer, said in a statement. Corel, which is known for its WordPerfect and CorelDraw programs, is based in Ottawa, Canada.

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Natalie Weinstein
Software maker Corel reported on Wednesday a profit for the second quarter in a row. The company earned $2.3 million, or 2 cents per fully diluted share, for its second fiscal quarter that ended May 31. That compares with a loss of $23.6 million, or 36 cents per share, in the same quarter last year.

Revenue for the quarter was $36 million, compared with $36.6 million for the same quarter last year. "This is the second consecutive quarter that we have posted a profit--a significant achievement, especially given the current economic uncertainty," John Blaine, Corel's chief financial officer, said in a statement. Corel, which is known for its WordPerfect and CorelDraw programs, is based in Ottawa, Canada.