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Technology Stocks : Corel Corp.

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To: Alomex who wrote (4922)	3/11/1998 9:00:00 AM
From: R.S. Blum	Read Replies (1) of 9798

OREM, Utah (AP) -- Corel Corp. is slashing prices by up to half for upgrades of its WordPerfect line of software products in an attempt to boost sagging sales. The once-leading software has been overwhelmed by rival Microsoft Corp.'s word-processing and office programs. Corel bought the WordPerfect business from Novell Inc. three years ago Starting Saturday, Corel will sell the latest upgrade of WordPerfect Suite 8 and WordPerfect Suite 8 Professional for $89 and $179, respectively, down from $179 and $249. Both products package word-processing, spreadsheet and presentations software in addition to other programs. The prices are less than half what Microsoft charges for upgrade versions of its market-leading Office 97 products. Corel hopes to return to profitability this year after reporting a $67 million loss in its latest financial quarter amid plunging software sales. But analysts expressed skepticism that Corel will be able to offset the negative impact of dramatic price cuts. Michel DeLavergne, an analyst with Dlouhy Investments in Montreal, said he does not expect Corel to report a profit this year. "I don't see much very positive about the company's financial future," he said. "They have many challenges ahead of them."

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