Corel Posts Q1 Net Loss

SAN FRANCISCO (03/20/2000) - Corel Corp. today announced a net loss for its first quarter of fiscal 2000 of US$12.4 million, or 19 cents per diluted share, compared to a net loss of $14.6 million, or 24 cents per share, for the year-ago quarter.

For the quarter ended Feb. 29, 2000, Corel recorded revenue of $44.1 million, compared with $40.3 million, for the same period last year, the company said in a statement issued today.

The software vendor had $29.3 million in cash on hand at the end of the first quarter of fiscal 2000, the company said.

(More details to follow.)

Corel, in Ottawa, Canada, can be reached +1-613-728-8200 or at the Web at http://www.corel.com/.

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