Corel attributed its improved third quarter results to efficient cost control of its advertising and research and development spend.
Officials of the Canadian applications supplier also said it will begin shipping the first beta of its Linux operating system today.
Corel pulled in revenues of $71.3 million for the quarter ended 31 August, compared with $71.1 million a year ago. Profits were $17.6 million, or $0.26 a share, surpassing Wall Street’s expectations of $0.12 a share. Last year Corel made a loss of $7.8 million, or $0.13 a share.
Said Michael O’Reilly, Corel’s executive vice president, finance and chief financial officer, "I believe that with the turnaround behind us, Corel is in a solid position for growth and our outlook for the fourth quarter remains positive."
Michael Cowpland, president and chief executive said the company will begin shipping the first beta of its version of the Linux operating system to key sites today. Corel announced that it planned to come out with its own Linux distribution at the first Linux World conference earlier this year, after making heavy investments in porting its applications to Java.
Although Cowpland acknowledged that Linux would not replace Microsoft Windows operating system he said it represented huge opportunities in the market.
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