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September 24, 1998

COMPANY RESULT: COREL CORP

By CBR Staff Writer

Corel Corp has reported a third-quarter net loss of $7.8m on revenue up 45.7% at $71.1m, down from a loss of $35.9m a year ago. Nine-month net loss was $37.2m on revenue down 17.2% at $179.6m, against a loss of $164.8m last year. Results include restructuring charges of $15.9m as a result of the company’s consolidation of its Utah-based engineering operations with its Ottawa operations. Results for the year-ago nine-month period include a one-time charge of $113.7m stemming from the write-down of purchased assets.

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