Corel Corp. announced its second quarter results today, reporting a small profit. Revenues for the second quarter of fiscal year 2001 were $36.0 million compared with revenues of $36.6 million for the same quarter last year.
Net income for the quarter was $2.3 million or $0.02 per share fully diluted, compared with a net loss of $23.6 million or ($0.36) per share for the same period last year, and $534,000 or 1 cent per share in the first quarter of fiscal 2001.
“This is the second consecutive quarter that we have posted a profit — a significant achievement, especially given the current economic uncertainty,” said John Blaine, chief financial officer at Corel. “We continue to improve Corel’s financial position by managing our daily operations for long-term, sustainable growth, rather than short-term gains. Our ability to achieve these early profits is a testament to how much more efficiently we are running the business.”
One of the Q2 highlights listed by the company in the report was the introduction to customers of upcoming releases for Mac OS X. Corel also cited the ability for customers to buy Corel products — KPT 6, Bryce 4, Corel Painter 6 and Corel KnockOut 1.5 — when purchasing hardware from the Apple online store.