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COREL CORPORATION REPORTS 1993 SECOND QUARTER RESULTS

 OTTAWA, July 8 /PRNewswire/ -- Corel Corporation (NASDAQ: COSFF) today reported financial results for the second quarter ended May 31, 1993.
 Dr. Michael Cowpland, Corel's President and CEO commented on the second quarter of 1993:
 "The second quarter results reflect the successful launch
 of CorelDRAW 4 and the acceptance of our strategy to
 mass market CorelDRAW 3 at a lower price to entry level,
 price sensitive consumers. This unprecedented move of
 marketing both versions, coupled with the increasing
 sales of the SCSI division has provided us with our best
 quarter ever from an earnings perspective."
 The installed base of CorelDRAW is now over 550,000
 worldwide and continues to expand. The successful
 introduction of CorelSCSI Pro and CorelRAID have helped
 to further position Corel as the industry's leading
 supplier of systems and applications software for
 SCSI peripherals.
 Michael Slaunwhite, Corel's Chief Financial Officer, provided a detailed accounting of the Company's 1993 second quarter results:
 "Revenues for the second quarter of 1993 were $27.4 million,
 an increase of 32 per cent over 1992's second quarter sales
 of $20.8 million."
 "After-tax net income was $4.5 million or $.30 per share in
 the second quarter of 1993, compared to $1.7 million or
 $.13 per share in the second quarter of 1992.''
 "As at May 31, 1993, Corel had $91.4 million in current
 assets which included $59.7 million in cash and short-term
 investments."
 Corel Corporation is a graphics and SCSI products development company. It was founded in June 1985 by Dr. Michael Cowpland. Corel is a publicly traded corporation listed on The Toronto Stock Exchange (symbol COS) and the NASDAQ National Market System (symbol COSFF).
 COREL CORPORATION
 Financial Statements (Unaudited)
 Quarter Ended May 31, 1993
 Statement Of Income
 (Canadian dollars, 000s omitted except per share data, unaudited)
 Quarter ended May 31 1993 1992
 Sales $ 27,380 $ 20,786
 Cost of sales 6,101 6,049
 Gross Profit 21,279 14,737
 Expenses:
 Advertising 5,788 4,833
 General and administration 5,521 4,023
 Research and development 2,124 1,691
 Depreciation and amortization 1,526 812
 Loss (gain) on foreign exchange (373) (259)
 14,586 11,100
 Loss from operations 6,693 3,637
 Interest and dividend income 825 402
 Income before income taxes 7,518 4,039
 Income taxes 2,995 1,670
 Net income for continuing
 operations 4,523 2,369
 Loss from discontinued operations,
 net of income taxes -- (719)
 Net income $ 4,523 $ 1,650
 Earnings Per Share:
 Net income from continuing
 operations - Basic $ .33 $ .21
 - Fully Diluted $ .30 $ .19
 Net income per common
 share - Basic $ .33 $ .14
 - Fully Diluted $ .30 $ .13
 Average number of common shares
 outstanding - Basic 13,717 11,528
 - Fully Diluted 15,046 12,600
 Six Months Ended May 31 1993 1992
 Sales $ 48,103 $ 34,092
 Cost of sales 11,047 9,038
 Gross Profit 37,056 25,054
 Expenses:
 Advertising 11,178 8,146
 General and administration 10,230 7,252
 Research and development 4,121 2,784
 Depreciation and amortization 2,728 1,452
 Loss (gain) on foreign exchange 529 (1,061)
 28,786 18,573
 Income from operations 8,270 6,481
 Interest and dividend income 1,659 932
 Income before income taxes 9,929 7,413
 Income taxes 3,892 3,070
 Net income for continuing operations 6,037 4,343
 Loss from discontinued operations,
 net of income taxes -- (1,100)
 Net income $ 6,037 $ 3,243
 Earnings Per Share:
 Net income from continuing
 operations - Basic $ .44 $ .38
 - Fully Diluted $ .40 $ .35
 Net income per common
 share - Basic $ .44 $ .28
 - Fully Diluted $ .40 $ .26
 Average number of common shares
 outstanding - Basic 13,698 11,475
 - Fully Diluted 15,038 12,582
 COREL CORPORATION
 Balance Sheet
 (Canadian dollars, 000s omitted, unaudited)
 As at May 31 1993 1994
 Assets
 Current assets:
 Cash and short-term investments $ 59,674 $ 23,746
 Accounts receivable - Trade 24,196 21,570
 - Other 1,550 1,023
 Inventory 5,025 5,996
 Income taxes recoverable -- 1,507
 Prepaid expenses 950 640
 91,395 54,482
 Capital assets 23,622 13,473
 $ 115,017 $ 67,955
 Liabilities and Shareholders' Equity
 Current liabilities:
 Accounts payable and
 accrued liabilities $ 7,894 $ 6,525
 Income taxes payable 188
 Deferred income taxes 823 1,486
 8,905 8,011
 Share capital 70,412 38,224
 Contributed surplus 470 470
 Retained earnings 35,230 21,250
 106,112 59,944
 $ 115,017 $ 67,955
 -0- 7/8/93
 /CONTACT: John Hladkowicz, investor relations - Corel Corporation, 613-728-8200, ext. 1194/
 (COSFF)


CO: Corel Corporation ST: Ontario IN: SU: ERN

LD -- NY095 -- 9694 07/08/93 17:18 EDT
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