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September 27, 1998

COREL SAYS GRAPHICS BOOSTED Q3; PROMISES Q4 PROFIT

By CBR Staff Writer

Corel Corp is attributing its 45.7% year-over-year increase in third-quarter revenue to a booming business for graphics software. The Canadian company says while its productivity applications software sales declined nearly 10%, graphics sales rose more than 210% from the year-ago quarter and 32% from the previous quarter to $38.2m, or 54% of total sales. The graphics business was boosted by strong sales of several new products, including Draw8 for Macintosh, Print Office and Draw Select. The company still insists that it’s on track to reach sustained profitability beginning next quarter. The company would have turned in a net profit this time around but for the effect of a $15.9m restructuring charge as a result of the company’s consolidation of its Utah-based engineering operations with its Ottawa operations.

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