A lot depends on a lot.
Which version of the program are you using? On what operating system?
What model of camcorder is your original footage coming from and what format and resolution is it?
What are your project settings, as listed under the Edit menu?
And which Share template are you using for your output?
While gathering the information to answer Steve, you might read at http://forums.adobe.com/thread/1275830 which has links describing how to import (so your project is correct) as well as how to share for different reasons
Also, for future reference, the information you need to provide when you ask a question - Premiere Elements FAQ http://forums.adobe.com/thread/1042180