March 26, 1997 6:15 PM ET
Corel in the black for Q1
By Margaret Kane

Corel Corp. managed to pull itself into the black for the first quarter, turning a profit of about $1 million. Sales for the quarter ended Feb. 28 were $93.7 million, up from $36.4 million a year ago. The company also confirmed that it will spin off its Video and Networking Computing groups into a new company to be called Corel Computer Corp., which will operate as a wholly owned subsidiary. The new company will focus on offering "a complete hardware and software solution to the corporate environment," officials said. Corel has had a rocky couple of quarters, switching between losses and gains over the past year. The company earned $6.5 million in the fourth quarter of 1996 on sales of $125.4 million. This quarter, the Ottawa company came in near analysts' expectations. Copyright(c) 1997 Ziff-Davis Publishing Company. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Ziff-Davis Publishing Company is prohibited. PC Week and the PC Week logo are trademarks of Ziff-Davis Publishing Company. PC Week Online and the PC Week Online logo are trademarks of Ziff-Davis Publishing Company. Send mail to PC Week