Corel Corp announced Wednesday results for its first quarter, ended February 28, 1997. The Ottowa-based software company posted a net income of $1m on revenue that increased 157% to $93.7, compared to a net loss of $6.6m for the same period a year ago. Earnings per share were $0.01 – a minor surprise – as analysts expected a slight loss. First-quarter results include research and development costs of $19m, as the company readies WordPerfect Suite 8 – currently in Beta – for a second-quarter launch. Also in the quarter, Corel announced that it is moving forward with its plans to spin off its Video and Network Computing groups into a wholly-owned subsidiary, Corel Computer Corp, which will concentrate in the areas of videoconferencing and network computing.
