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Corel Corporation Reports Third Quarter 2008 Financial Results

2008-10-06 13:07:47
 

Corel Corporation reported financial results for its third quarter ended August 31, 2008. Revenues in the third quarter of fiscal 2008 were $66.2 million, compared to $60.4 million in the third quarter fiscal 2007. GAAP net income in the third quarter of fiscal 2008 was $1.6 million, or $0.06 per basic and diluted share, compared to GAAP net loss of $6.8 million, or $(0.27) per basic and diluted share, in the third quarter of fiscal 2007.

Non-GAAP adjusted net income for the third quarter fiscal 2008 was $10.2 million, or $0.39 per diluted share, compared to non-GAAP adjusted net income for the third quarter of fiscal 2007 of $8.1 million, or $0.31 per diluted share. Non-GAAP adjusted EBITDA in the third quarter of 2008 was $15.8 million, compared to $13.5 million in the third quarter of 2007.

Revenues for the nine months ended August 31, 2008 were $198.8 million, compared to revenues of $178.0 million for the nine months ended August 31, 2007. GAAP net income for the nine months ended August 31, 2008 was $2.5 million, or $0.10 per basic and diluted share, compared to a GAAP net loss of $16.3 million, or $(0.66) per basic and diluted share, for the nine months ended August 31, 2007.