Business
Corel Corporation Reports Third Quarter Results
Corel Corporation Reports Third Quarter Results.
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"\n\n\n\n\nRevenue Increases 7%; GAAP Net Income of $0.22 Per Diluted Share;\n\nNon-GAAP Adjusted Net Income of $0.36 Per Diluted Share\n\nOTTAWA, September 28 /CNW/ - Corel Corporation (NASDAQ:CREL) (TSX:CRE)\ntoday reported financial results for its third quarter ended August 31, 2006.\nRevenues in the third quarter of fiscal 2006 were $41.3 million, an increase\nof 7% over revenues of $38.5 million in the third quarter of fiscal 2005. GAAP\nnet income in the third quarter of fiscal 2006 was $5.5 million, or $0.22 per\ndiluted share. This compares to a GAAP net loss of $(3.0) million, or $(0.15)\nper share in the third quarter of fiscal 2005.\n\nNon-GAAP adjusted net income for the third quarter of fiscal 2006 was\n$9.2 million, or $0.36 per diluted share, an increase of 88% compared to\nnon-GAAP adjusted net income for the third quarter of fiscal 2005 of $4.9\nmillion, or $0.24 per diluted share. Non-GAAP adjusted EBITDA in the third\nquarter of fiscal 2006 was $12.4 million, a 16% increase compared to $10.7\nmillion in the third quarter of fiscal 2005. A reconciliation of GAAP net\nincome to non-GAAP adjusted net income and non-GAAP adjusted EBITDA is\nprovided in the notes to the financial statements included in this press\nrelease.\n\n\"Corel continued to execute against all aspects of our strategy in the\nthird quarter,\" said David Dobson, CEO of Corel Corporation. \"Our announced\nacquisition of InterVideo and recent launches of Snapfire and Paint Shop Pro\nPhoto XI show that we are focused on delivering the products and value that\ncustomers and partners demand. We also showed our discipline around driving\nprofits as earnings growth outpaced revenue growth. With strong revenue\nperformance, new global partnerships, and increasing traction in developing\nand emerging markets, Corel is successfully executing its strategy to deliver\nlong-term, shareholder value.\"\n\nFourth Quarter Fiscal 2006 Guidance\n\nCorel provided guidance for the fourth quarter ending November 30, 2006.\n\nThe Company currently expects:\n\n-- Revenue in the range of $46 million to $48 million.\n\n-- GAAP net income of $6.7 million to $7.8 million and non-GAAP adjusted\nnet income of $10.4 million to $11.5 million.\n\n-- GAAP EPS of $0.26 to $0.30 per share and non-GAAP EPS of $0.40 to\n$0.45 per share.\n\nFiscal 2006 Guidance\n\nCorel provided gui...