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COREL CORPORATION REPORTS RECORD QUARTERLY REVENUES

 COREL CORPORATION REPORTS RECORD QUARTERLY REVENUES
 OTTAWA, Ontario, July 9 /PRNewswire/ -- Corel Corporation today


reported financial results for the second quarter ended May 31, 1992.
 Dr. Michael Cowpland, Corel's president and CEO commented on the 1992 second quarter:
 "Corel recorded its best quarter ever from a sales perspective."
 "This quarter's results reflect the strong initial demand for CorelDRAW 3.0, the newest release of our award-winning graphics software, which is now the most comprehensive graphics software package available worldwide,"
 Michael Slaunwhite, Corel's chief financial officer, provided a detailed accounting of the company's 1992 first quarter results:
 "Revenues for the second quarter of 1992 were $20.8 million, an increase of 54 per cent over 1991's second quarter sales of $13.5 million."
 "After-tax net income was $1.7 million or $.13 per share in the second quarter of 1992, compared to $3.6 million or $.31 per share in the second quarter of 1991."
 "The company added $3.7 million to its cash balance during this quarter. As at May 31, 1992, Corel had $54.5 million in current assets which included $23.7 million in cash and short-term investments."
 Corel Corporation is a graphics and SCSI software 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).
 COREL CORPORATION
 Statement of Income
 (Canadian dollars, 000's omitted, unaudited)
 Quarter ended May 31 1992 1991
 Sales $20,786 $13,506
 Cost of sales 5,692 1,854
 Gross profit 15,094 11,652
 Expenses:
 Marketing and administration 10,121 4,847
 Research and Development 1,691 966
 Depreciation and amortization 885 150
 Total 12,697 5,963
 Income from operations 2,397 5,689
 Interest and dividend income 402 601
 Income before income taxes 2,799 6,290
 Income taxes 1,149 2,630
 Net income from continuing operations 1,650 3,660
 Loss from discontinued operations,
 net of income taxes 65
 Net income 1,650 3,595
 Earnings Per Share:
 Net income from continuing
 operations - Basic $.14 $.33
 - Fully Diluted $.13 $.31
 Net income per common
 share - Basic $.14 $.32
 - Fully Diluted $.13 $.31
 Average number of common
 shares outstanding - Basic 11,528 11,085
 - Fully Diluted 12,600 11,745
 BALANCE SHEET
 (Canadian dollars, 000's
 omitted, unaudited)
 As of May 31
 1992 1991
 Assets
 Current assets:
 Cash and short-term
 investments $ 23,746 $ 23,359
 Accounts receivable
 - Trade 21,570 15,431
 - Other 1,023 1,486
 Inventory 5,996 7,702
 Income taxes recoverable 1,507 --
 Prepaid expenses 640 163
 Sub-total 54,482 48,141
 Capital assets 13,473 3,162
 Total $ 67,955 $ 51,303
 Liabilities and Shareholders' Equity
 Current liabilities:
 Accounts payable and accrued
 liabilities $ 6,525 $ 4,497
 Income taxes payable -- 2,866
 Deferred taxes payable 1,486 623
 Deferred revenue 267
 Total 8,011 8,253
 Share capital 38,224 29,400
 Contributed surplus 470 470
 Retained earnings 21,250 13,180
 Total 59,944 43,050
 Total liabilities and
 shareholders' equity $ 67,955 $ 51,303
 -0- 7/09/92
 /CONTACT: John Hladkowicz of Investor Relations, 613-728-8200, ext. 1194/
 (COS.) CO: Corel Corporation ST: Ontario IN: CPR SU: ERN


LD -- NY072 -- 8048 07/09/92 17:24 EDT
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Date:Jul 9, 1992
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