By Sonya Rabbitte, 27 September 2001 12:21
NEWS Corel has reported its third consecutive profitable quarter as it bounces back from last year's losses. Profit for the third quarter ending 31 August 2001 was a modest $500,000 or one cent per share, down from $2.3m or two cents a share in the second fiscal quarter of 2001. But in the third quarter of last year Corel posted a loss of $10.7m or 15 cents a share. Cash and marketable securities for this quarter stood at $123.8m, up from $11.6m in the third quarter last year. Revenue was $34.2m, down from $36m 12 months ago. The company implemented a cost cutting programme this time last year aimed at saving $40m after its CEO quit.
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