Corel Corporation Reports Fourth Quarter and Fiscal 2007 Financial Results

Corel Corporation Reports Fourth Quarter and Fiscal 2007 Financial Results

Corel Corporation (NASDAQ:CREL; TSX:CRE) today reported financial results for its fourth quarter and year ended November 30, 2007. Revenues in the fourth quarter of fiscal 2007 were $72.4 million, an increase of 53 percent over revenues of $47.4 million in the fourth quarter fiscal 2006. Fourth quarter 2007 revenue includes organic revenue growth of 8 percent, which excludes revenue from products acquired from Intervideo and Ulead. GAAP net income in the fourth quarter of fiscal 2007 was $3.3 million, or $0.13 per diluted share, compared to GAAP net income of $9.4 million, or $0.37 per diluted share, in the fourth quarter of fiscal 2006.

Non-GAAP adjusted net income for the fourth quarter fiscal 2007 was $13.4 million, or $0.51 per diluted share, compared to non-GAAP adjusted net income for the fourth quarter of fiscal 2006 of $13.1 million, or $0.52 per diluted share. Non-GAAP adjusted EBITDA in the fourth quarter of 2007 was $19.9 million, an increase of 35 percent over $14.7 million in the fourth quarter of 2006.

“Corel closed 2007 with a very strong fourth quarter driven by solid execution across our diverse mix of products, channels and geographies,” said David Dobson, Chief Executive Officer, Corel Corporation. “We continued to execute well on our key strategies in 2007 by delivering strong organic growth while successfully completing the integration of Intervideo and Ulead. The fundamental strength of the Corel business model is the ability to successfully integrate new products and teams while maintaining a sharp focus on profitably growing existing businesses.”

“Looking at the business over the past three years, I am very pleased with how we have re-positioned Corel into product and market segments that have better revenue growth and profit potential. As we enter 2008, we stand well-positioned to continue building on the foundation of our Graphics and Productivity products while leveraging our extensive Digital Media portfolio to pursue new growth opportunities.”

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