Corel - Investors with no Humor Message Board

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Technology Stocks : Corel - Investors with no Humor

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To: A. Reader who wrote (692)	6/24/1998 5:30:00 PM
From: Mark Sobkowicz	Read Replies (3) of 1094

www2.cdn-news.com NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: COREL CORPORATION TSE SYMBOL: COS NASDAQ SYMBOL: COSFF JUNE 24, 1998 Corel Corporation Releases Better than Predicted 1998 Second Quarter Results and Announces Consolidation OTTAWA, ONTARIO--Corel Corporation today released better than predicted financial results for its second quarter of fiscal 1998 ended May 31, 1998. All amounts are reported in US currency. At the same time, the company announced a major consolidation, blending its Utah operations into Ottawa in order to increase R&D synergies across its product line. This move will strengthen the company both financially and from a product perspective. Corel reported net sales of $63 million and a net loss of $8.3 million or $(0.14) per share for the second quarter. At May 31, 1998 the Company's current asset position stood at $72.6 million, including $17.3 million in cash and short-term investments.

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