Canadian software vendor Corel has reported a drop in Q4profits and revealed it is not going to make forecasts about the rest of theyear.
The quarterly results also included a 4% drop in revenues for thethree months ended 30 November although figures for the full year showed a 7%increase in sales.
Non-GAAP net income for the fourth quarter dropped to $11.4mcompared to $13.4m for the period a year before.
In a statement Kris Hagerman, interim CEO of Corel said thatit was facing tough economic conditions but revenues across all geographiesheld up.
“Looking ahead to 2009, we have an exciting slate of newproduct introductions that we believe will further enhance our market position,even in a challenging economy,” he added.
Despite that comment the company has indicated it would notprovide guidance for Q1 of the full fiscal year ahead.