Corel Corporation reported financial results for its first quarter ended February 28, 2007. Revenues in the first quarter of fiscal 2007 were $52.6 million, an increase of 19% over revenues of $44.3 million in the first quarter fiscal 2006. GAAP net loss in the first quarter of fiscal 2007 was $11.9 million, or ($0.48) per share, compared to a GAAP net loss of $1.6 million, or $(0.08) per share in the first quarter of fiscal 2006.

Non-GAAP adjusted net income for the first quarter fiscal 2007 was $2.7 million, or $0.11 per diluted share, compared to non-GAAP adjusted net income for the first quarter of fiscal 2006 of $6.8 million, or $0.33 per diluted share. Non-GAAP adjusted EBITDA in the first quarter of 2007 was $8.7 million, compared to $14.4 million in the first quarter of fiscal 2006.