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Talkin' Smack: Back in BlackWill Corel's new strategy pay off?
Wall Street and investors didn't take too kindly to the predicament. And users of Corel's software, as well as those whose favorite apps from Metacreations were now in the hands of a troubled, seemingly directionless company, were justifiably concerned. After all, for companies in trouble, the mode on Wall Street had been (and continues to be) the liquidation of products in favor of new business models that would stimulate interest in the stock, while leaving users out in the cold.
However, Corel's plan was different. The company announced that it would rededicate itself to its software, focus on customer support and, last, bring some discipline to its financial management.
That was six months ago. Since then, the company has reported two quarters of modest profit (versus staggering losses), received a bit of a cash infusion from Microsoft and, of course, released several new versions of its software, including, most recently, Bryce 5 for Mac and Windows and Essentials (a combination of CorelDraw 9 and Photo-Paint 9) for Windows.
Plus, in a statement released last week with its most recent financials, Corel said it plans to launch five new applications that will run under Mac OS X over the next six months. Said Derek Burney, president and CEO of Corel:
"Over the short-term, we are moving rapidly to increase revenues by becoming truly a 'customer-centric' organization, in which our guiding philosophy is to anticipate our customers' needs. With that in mind, we have exciting plans in the works for the upcoming quarters, including the launch of a full complement of creative products optimized for Mac OS X."
This includes the previously announced CorelDraw 10 Suite and Painter 7, the long-anticipated update to Painter, which is expected to be released in August.
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