Corel reports net loss in Q2

Mon. July 13, 2009; Posted: 01:13 PM

Jul 13, 2009 (Datamonitor via COMTEX) -- CREL | Quote | Chart | News | PowerRating -- Corel, a provider of graphics and productivity software, has reported a net loss of $4.12 million, or diluted loss per share of $0.16, for the second quarter ended May 31, 2009, compared to a net income of $930,000, or diluted earnings per share of $0.04, for the same quarter of fiscal 2008.

For the second quarter of fiscal 2009, total revenues were $50.37 million, compared to $67.04 million for the same quarter of fiscal 2008.

For the first six months of fiscal 2009, total revenues were $106.58 million, compared to $132.58 million, for the same period of fiscal 2008. Net loss was $5.66 million, or diluted loss per share of $0.22, compared to a net income of $900,000, or diluted earnings per share of $0.03, for the same quarter of fiscal 2008.

Kris Hagerman, interim CEO of Corel, said: "While Corel continued to feel the effects of the economic climate, we took proactive steps to reduce expenses and were pleased by the industry recognition we received for our innovative efforts to improve user experience. We continue to invest in the product strategies, distribution channels and regions that will further strengthen our competitive position and support our long term growth as the economy improves."

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