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Technology Stocks : Corel - Investors with no Humor
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To: A. Reader who wrote (817)10/24/1998 7:58:00 AM
From: A. Reader   of 1094
 
Changes at Corel overblown: Cowpland
....Corel Corp. has replaced the auditing firm that forced it to slice $33 million off sales estimates earlier this year.

KPMG Peat Marwick, which audited Corel's books during its recent financial troubles, has been replaced by Coopers & Lybrand.

.....Mr. Cowpland said the changes do not mean Corel is retrenching or retreating from its forecast of profitable results in the next fiscal quarter, the first in two years. He dismissed suggestions that the KPMG was being replaced because of conflicts.

"Somebody is grasping at straws and making mountains out of molehills," he said, referring to a front page article in The Financial Post. "It must have been a very slow news day."

.....As for the executive departures, Mr. Cowpland said the changes are not significant and do not affect the senior leadership team of the company.
ottawacitizen.com
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