Corel Corporation reported financial results for its first quarter ended February 29, 2008. Revenues in the first quarter of fiscal 2008 were $65.5 million, an increase of 25 percent over revenues of $52.6 million in the first quarter of fiscal 2007. First quarter 2008 revenue includes organic revenue growth of 3 percent, which excludes revenue from products acquired from InterVideo and Ulead.

GAAP net loss in the first quarter of fiscal 2008 was $30,000, or $(0.00) per basic and diluted share, compared to GAAP net loss of $11.9 million, or $(0.48) per basic and diluted share, in the first quarter of fiscal 2007. Non-GAAP adjusted net income for the first quarter of fiscal 2008 was $6.7 million, or $0.26 per diluted share, compared to non-GAAP adjusted net income for the first quarter of fiscal 2007 of $2.7 million, or $0.11 per diluted share. Non-GAAP adjusted EBITDA in the first quarter of 2008 was $13.3 million, an increase of 52 percent over $8.7 million in the first quarter of 2007.