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Corel steps towards salvation

enero 15, 2020

Corel steps towards salvation – Macitynet.itlogomacitynet1200wide 1

The hole in Corel's balance sheet is less than expected. The Canadian company, in fact, reported yesterday losses of 10.7 million dollars or 15 cents per share. Analysts had expected losses of 28 cents per share, almost double. "This is a signal that the operations that we have completed in recent months – said the head of financial operations John Blaine – are having an impact on our balance sheets. Turnover remains stable and costs drop; we are making progress in building solid economic foundations for the future of the company. "Corel still has a long way to go to be able to return to the market and be interesting for investors. After the job and investment cuts that have cut through a structure afflicted by gigantism with respect to its current possibilities, it is a matter of finding a way to occupy a very specific market niche and the choice to operate in the Linux sector, while at the forefront, represents still a gamble. First, Corel now needs to find the funds to invest in development and research. In this direction good news came from the market from which emerged an investor, still anonymous, who with a complex financial transaction will bring 56 million dollars in cash. We remember that Corel, after the purchase of a large part of the Metacreations application portfolio , check out some important creative graphics programs in the Mac world today. In the past, the belief had spread that among the possible cuts there could be the discontinuation of the development of the Mac version of products such as Painter and Bryce, rumors always denied by Corel

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