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Corel Corporation Reports First Quarter 2007 Financial Results
Corel Corporation Reports First Quarter 2007 Financial Results.
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"\n\n\n\nOTTAWA, April 19 /CNW/ - Corel Corporation (NASDAQ:CREL) (TSX:CRE) today\nreported financial results for its first quarter ended February 28, 2007.\nRevenues in the first quarter of fiscal 2007 were $52.6 million, an increase\nof 19% over revenues of $44.3 million in the first quarter fiscal 2006. GAAP\nnet loss in the first quarter of fiscal 2007 was $11.9 million, or ($0.48) per\nshare, compared to a GAAP net loss of $1.6 million, or $(0.08) per share in\nthe first quarter of fiscal 2006.\n\n\nNon-GAAP adjusted net income for the first quarter fiscal 2007 was $2.7\nmillion, or $0.11 per diluted share, compared to non-GAAP adjusted net income\nfor the first quarter of fiscal 2006 of $6.8 million, or $0.33 per diluted\nshare. Non-GAAP adjusted EBITDA in the first quarter of 2007 was $8.7 million,\ncompared to $14.4 million in the first quarter of fiscal 2006.\n\n\nA reconciliation of GAAP net income to non- GAAP adjusted net income and\nnon-GAAP adjusted EBITDA is provided in the notes to the financial statements\nincluded in this press release.\n\n\n"With revenue at the high end of our guidance and earnings above\nguidance, Q1 was another solid quarter for Corel as we reported our first\ncombined results for Corel and InterVideo," said David Dobson, CEO of Corel\nCorporation. "The strength of our existing portfolio was demonstrated through\nthe performance of WinZip, iGrafx, CorelDRAW Graphics Suite and Paint Shop\nPro. We achieved these results while completing the acquisition of InterVideo\nand establishing a new Digital Media business to pursue the significant market\nopportunities we see ahead."\n\n\nAdded Mr. Dobson: "I am pleased with the progress we have made in\nadvancing the integration and creating a global team that is well positioned\nin the rapidly growing digital media market. With a proven product portfolio,\nexpanded distribution capabilities, and growing traction in developing and\nemerging markets, Corel is poised to capitalize on the growing market demand\nfor compelling digital content that is easy to create and share."\n\n\nFinancial Guidance\n\n\nSecond Quarter Fiscal 2007 Guidance\n\n\nCorel provided guidance for the second quarter ending May 31, 2007. The\nCompany currently expects:\n\n\n-- Revenue in the range of $62 million to $64 million.\n\n\n-- GAAP net loss of ...