Corel?s Q2 sales climbed 15 per cent to $100.4 million, against $87.5 million for the same period last year.
The company declared a net loss of $105.7 million for the three months to May 31, after writing down $113.7 million worth assets. Previously technologies acquired from Novell and technology licenses from other companies were capitalised on Corel?s books. The one-off write down reflects a more conservative fiscal policy by Corel.
Without the write down, Corel?s net income for the quarter would have been $4.1 million, compared with net income of $506,000 for the same quarter last year.
WordPerfect 8 Suite was the star performer of the Corel portfolio. It accounted for two thirds of Q2 sales. The company said it reduced the cost of goods for the suite to less than $5, resulting in a gross profit of $120 on each product sold. Over 300,000 WordPerfect 8 units were sold during the quarter.
Graphics software accounted for one third of Corel?s turnover in the quarter. Of this, Corel Draw delivered 67 per cent of graphics sales. Multimedia and video product sales were down.
In Q3, Corel plans to ship a Web-enabled version of WordPerfect. This will integrate Netscape Communicator. It is holding fire on the release of its Java suite until the release of Sun?s Java 1.3 in October.
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