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Corel outlines revenue growth plans for 2002

Corel president and CEO Derek Burney today outlined his company’s plan to make key investments in research and development and emerging markets in order to attain continued revenue growth. As a result, Corel expects to post sequential losses in 2002 as the company “invests in the future.” Burney described the launch of procreate, the company’s new professional graphics brand largely targeted at Mac graphics professionals, as being extremely successful. Procreate is one of six product segments that Corel plans to conduct business within during 2002; others include the content solutions segment, such as providing solutions for newspapers to seamlessly bring their content to the Web, and the technical illustrations segment, which would provide solutions for delivering dynamic graphics that would be updated based on a dynamic data source as well as manipulating the data source from the interactive graphic. A number of new products incorporating these technologies and others are expected to be launched in 2002.

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