Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Corel Corp. -- Ignore unavailable to you. Want to Upgrade?

To: revbill who wrote (4384)	1/23/1998 8:30:00 AM
From: A. Reader	Respond to of 9798

Hi revbill, Thanks. I hadn't seen the Andrew McIntosh article before now. This is sort of interesting. I Wonder who's idea it was to count the technology trades as revenue?? Here's what happened. During the first three quarters of 1997, Corel traded software it wrote in the new Java programming language. The trades were with other companies also developing Java products. No cash changed hands. At the time the trades occurred, chief financial officer Micheal O'Reilly said yesterday, Corel employees believed it was "appropriate" to count the technology trades as revenue in quarterly results. This move increased Corel's revenue by a total of about $34 million in the three quarters. After the year ended, Corel and its KPMG auditors decided it was inappropriate to count the barter trades as revenue. And this is great too. More of what they've become famous for! "With the stock price at all time low we're going to make everyone wait for the April fool's joke!" Mr. Cowpland and other senior executives hinted that Corel's first-quarter results might surprise, saying they were happy and felt good about events and is now expecting revenues from potential network computer sales by midyear. "We also have a few things happening behind the scenes. We prefer to let them happen instead of talking about them ahead of time," Mr. Cowpland said.