Corel Corp. managed to pull itself into the black for the first quarter, turning a profit of about $1 million.
Sales for the quarter ended Feb. 28 were $93.7 million, up from $36.4 million a year ago.
The company also confirmed that it will spin off its Video and Networking Computing groups into a new company to be called Corel Computer Corp., which will operate as a wholly owned subsidiary. The new company will focus on offering "a complete hardware and software solution to the corporate environment," officials said.
Corel has had a rocky couple of quarters, switching between losses and gains over the past year. The company earned $6.5 million in the fourth quarter of 1996 on sales of $125.4 million.
This quarter, the Ottawa company came in near analysts' expectations.