Feeds

Corel makes money shock!

Fiscal conservatism

  • alert
  • submit to reddit

Internet Security Threat Report 2014

By abandoning its imperial pretensions, and concentrating on the desktop graphics stuff (and WordPerfect too) it does best, Corel has rediscovered the knack of making money.

In Q3, ended Aug 31, 2001, the Canadian software publisher declared a profit, not a big one - US$500K - but a profit nevertheless. And a profit for a third quarter in a row.

For the quarter, Corel produced sales of $34.2m (Q3: 2001 $36.4m), compared with revenues of $36m and net income of $2.3m for Q2, 2001. In Q3 last year, the company made a net loss of $10.7m.

And for the year to date, Corel turned net income of $3.4m on sales of $102.7m. Compare and contrast with the same period last year, when the company recorded a net loss of $46.8m on sales of $117.1m. All in all, a decent performance, especially considering the slowdown in consumer IT spend this year.

The company had cash and cash equivalents at the end of the quarter of $123m, so it looks grounded enough to withstand any further downturn in the market.

During Q3, Corel announced its intention to buy Micrografx, the veteran developer of consumer graphics software, for $32m in stock and Softquad, developer of HTML editor HotMetal pro, for $36m in stock.

The company also fulfilled its ambition of hiving off its Linux distro business. This is constructed as a licensing/small amount of equity/no cash (as far as we can see) deal. but the upshot is that, if things don't work out, Corel retains rights to the software. ®

Related Stories

Corel licenses off Linux distro
Corel buys SoftQuad, acquires XML brains trust
Corel buys Micrografx

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Netscape Navigator - the browser that started it all - turns 20
It was 20 years ago today, Marc Andreeesen taught the band to play
Sway: Microsoft's new Office app doesn't have an Undo function
Content aggregation, meet the workplace ... oh
Sign off my IT project or I’ll PHONE your MUM
Honestly, it’s a piece of piss
Return of the Jedi – Apache reclaims web server crown
.london, .hamburg and .公司 - that's .com in Chinese - storm the web server charts
NetWare sales revive in China thanks to that man Snowden
If it ain't Microsoft, it's in fashion behind the Great Firewall
Chrome 38's new HTML tag support makes fatties FIT and SKINNIER
First browser to protect networks' bandwith using official spec
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.