Corel predicts Monday's Q2 results announcement
Expect profits of 14 cents per share, $70.5 million revenue, says CFO
Corel today said that it expects to report revenues of $70.5 million on Monday when it posts its financials for its second quarter, ended 31 May. The company also said it expects to post a profit of 14 cents a share. That compares with the 14 cents a share loss on revenues of $63 million it posted for the same period last year. For the first quarter, Corel reported a loss of $14.6 million on revenues of $40.5 million. Corel has been cutting costs, but you have to wonder how it has turned that loss into profit during the quarter. Can it really be selling so many more copies of WordPerfect Office and Corel Draw? Corel CFO Michael O'Reilly said the announcement had been made "in recognition of what appears to be recent speculative trading" in Corel shares. That ties in, perhaps, with the frequent bouts of vigorous trading Corel shares have undergone, often under the possibility of a hostile takeover, something Corel has apparently been trying to guard against for the last six months or so. ®
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