Corel warned last week that it would report a third-quarter loss of around $32 million (#20 million).
The anticipated loss, for the quarter ended 31 August, would compare with a loss of $3.2 million on sales of $84.9 million for the same time last year. The results will be announced later this month.
However, despite last week's warning, the company said cash levels remained at $20 million, which is the same figure as at the end of the second quarter last year.
According to a company statement, the third-quarter results will also show revenue of $54 million, despite received orders for $96 million in the period. Corel said it expects sales to rise in the fourth quarter.
Corel president and CEO Michael Cowpland, said: "Over the last three quarters we have been repositioning the company from its retail focus to an expanded concentration on the corporate marketplace. In the near future, our Java technology leadership, combined with our business application expertise, will position Corel to deliver on the promise of Java."
He went on to say that in preliminary discussions with customers, the company had found "strong corporate interest" in its Java strategy.
Last month Corel scrapped plans to write a Java version of its Office suite for network computers. Instead it intends to release a Java version of the Office suite in conjunction with a new version of its Corel Central groupware called Alta next year.
The profit warning temporarily halted trading of Corel shares in US and Canadian exchanges. When trading resumed, the stock dropped $1 to $5.43.
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