Corel reports $US105.7 million loss for Q2Corel has posted a net loss of $US105.7 million for the second quarter ending May 31, and attributed the loss to heavy investments in development.
Specifically, the loss was due to a $US113.7 million non-recurring write-down. This included the purchase of original technologies from Novell, and licensing fees and royalty payments to various companies to develop Corel's CD Home Collection and its Medical Series software.
Net sales for the quarter were $US100.4 million, a 15 per cent increase over last year's second quarter of $US87.5 million. Net income, excluding the write-down, was $US4.1 million, an increase from second quarter 1996's result of $US506,000.
The Commodore saga goes on
Netherlands-based Tulip Compu-ters N.V. plans to acquire another Dutch PC maker, Commodore B.V., to create a new company worth $US500 million. Under the terms of the agreement, Tulip will acquire Commodore in exchange for an undisclosed amount of Tulip shares. Financial terms of the acquisition - which is expected to be complete by January 1, 1998 - have not been released.
Officials said Tulip will continue to market Commodore-branded PCs to the consumer market through Commodore's chain of 35 compu-ter shops in the Netherlands. If you yearn for the C64, check the Tulip site at www.tulipcomputers.com/Court decision hailedThe US Supreme Court has struck down the Communications Decency Act. It has been hailed as a victory for the future of the information superhighway and freedom of speech over the Internet. It didn't take long for Internet free speech sites to hail the decision, according to CNN. Minutes after the decision was announced, civil liberties groups flashed bulletins across their Web sites, linked to the text of the court's decision.
Locals team with ISSC
ISSC, the joint venture between IBM and Lend Lease, has formed alliances with six Australian companies to address opportunities in the Federal Government outsourcing market. The six are Canberra-based Daedalus Integration and Allied Technology Group, Melbourne-based Computer Power Group and Australian Information Processing Centre, Sydney-based The Software Group and, from Tasmania, Quill Consultancy.
Tel 13 2426: Fax (02) 9894 6283
BusiNet aims for Adelaidians
Computer networking specialist Salvatore Costanzo has started a new service for Adelaide-based dealers and resellers aimed at giving them better results with computer networks. Known as BusiNet Australia, the new organisation can handle local and wide area networks. It will focus on NetWare and NT Server.
Tel (08) 8410 4577; Fax (08) 8410 4402