A strong fourth quarter for Corel prevented a disasterous set of year end financial results, but the applications supplier still turned in a loss for the year ending 30 November 1996.
Problems arose after the company experienced inventory problems in previous quarters. Sales for its fourth quarter rose 102 per cent to $125.4 million, on net profits of $6.5 million, which reversed a $1 million loss in the year-ago quarter. Net revenues for its fiscal year rose 70 per cent to $334.2 million, but the company posted a net loss of $2.8 million, compared to 1995 income of $14.4 million.
Meanwhile, Corel hopes to woo specific niche markets within the next three months by releasing customised versions of its Office suite for the medical, legal and construction markets. The suites will include extra dictionaries, specialised templates and customised applications.
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