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Corel Corporation Reports Preliminary First Quarter 2007 Financial Results
Corel Corporation Reports Preliminary First Quarter 2007 Financial Results.
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"\n\n\n\nCompany delays filing of quarterly results to complete allocations\nrelated to InterVideo acquisition\n\n\nOTTAWA, April 12 /CNW/ - Corel Corporation (NASDAQ:CREL; TSX:CRE) today\nreported preliminary financial results for its first quarter ended February\n28, 2007. Revenues in the first quarter of fiscal 2007 are expected to be at\nthe high end of guidance and earnings are expected to be above guidance. On\nJanuary 18, 2007, the Company provided guidance for the first quarter of 2007\nof revenue in the range of $51 million to $53 million, GAAP EPS of $(0.70) to\n$(0.78) per share and non-GAAP EPS of $(0.04) to 0.04 per share. These\nfinancial results were prepared by management of the Company and are\nunaudited. The Company also reaffirmed its previous guidance for the full 2007\nfiscal year.\n\n\nThe Company also announced today that it intends to delay the filing of\nits Quarterly Report on Form 10-Q until no later than April 20, 2007. The\nCompany intends to delay its filing of quarterly results to complete the\naccounting of its acquisition of InterVideo on December 12, 2006, specifically\nregarding the allocation of the purchase price related to the acquisition. As\na result of this delay, the Company has postponed its results conference call,\noriginally scheduled for today at 4:30 p.m. eastern time. The Company will\nannounce a new time for the first quarter earnings conference call shortly.\n\n\n"Corel had a very solid quarter during which we completed the acquisition\nof InterVideo," said David Dobson, CEO of Corel Corporation. "We do not expect\nthe review of the purchase price allocation to impact our quarterly results or\nour forward guidance. We are looking forward to completing this process and\ndiscussing our final results with shareholders."\n\n\nThe Company intends to satisfy the alternate information disclosure\nrequirements under applicable policies of the Canadian securities regulatory\nauthorities until it has completed its required quarterly filings.\n\n\nForward-Looking Statements:\n\n\nThis news release includes forward-looking statements that are based on\ncertain assumptions and reflect our current expectations. Such forward-looking\nstatements involve known and unknown risks, uncertainties and other important\nfactors that could cause the actual results, performance or achi...