Business
Corel Corporation Reports Second Quarter 2007 Financial Results
Corel Corporation Reports Second Quarter 2007 Financial Results.
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"\n\n\n\nSuccessful acquisition of InterVideo drives 47% increase in revenue and\n$2.3 million in GAAP net income\n\n\nOTTAWA, July 12 /CNW/ - Corel Corporation (NASDAQ:CREL; TSX:CRE) today\nreported financial results for its second quarter ended May 31, 2007. Revenues\nin the second quarter of fiscal 2007 were $65.0 million, an increase of 47%\nover revenues of $44.2 million in the second quarter fiscal 2006. GAAP net\nincome in the second quarter of fiscal 2007 was $2.3 million, or $0.09 per\nshare, compared to a GAAP net loss of $4.0 million, or $(0.19) per share, in\nthe second quarter of fiscal 2006.\n\n\nNon-GAAP adjusted net income for the second quarter fiscal 2007 was $9.8\nmillion, or $0.39 per diluted share, compared to non-GAAP adjusted net income\nfor the second quarter of fiscal 2006 of $8.4 million, or $0.38 per diluted\nshare. Non-GAAP adjusted EBITDA in the second quarter of 2007 was $15.2\nmillion, compared to $13.7 million in the second quarter of fiscal 2006.\n\n\n"We are pleased with our performance in the second quarter, as we\ncontinue to execute our key strategies and demonstrate our ability to generate\nattractive financial returns for our shareholders," said David Dobson, CEO of\nCorel Corporation. "We are realizing many of the anticipated benefits from the\nacquisition of InterVideo and Ulead, including increased revenue contribution\nfrom a broader mix of OEM partners as well as a more diverse mix of revenue by\ngeography. I am pleased with the progress we have made so far as we continue\nto execute on our core strategic initiatives and expand into the digital media\nmarket."\n\n\nRevenues for the six months ended May 31, 2007 were $117.7 million, an\nincrease of 33% over revenues of $88.5 million for the six months ended May\n31, 2006. GAAP net loss for six months ended May 31, 2007 was $9.6 million, or\n$(0.39) per share, compared to a GAAP net loss of $5.6 million, or $(0.28) per\nshare, for the six months ended May 31, 2006.\n\n\nNon-GAAP adjusted net income for the six months ended May 31, 2007 was\n$12.6 million, or $0.50 per diluted share, compared to non-GAAP adjusted net\nincome for the six months ended May 31, 2006 of $15.3 million, or $0.72 per\ndiluted share. Non-GAAP adjusted EBITDA for the six months ended May 31, 2007\nwas $24.0 million, compared to $28.1 million for ...