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| 8-K - FORM 8-K - AMERICAN LEARNING Corp | y04540e8vk.htm |
EXHIBIT 99.1
AMERICAN LEARNING CORPORATION
REPORTS THIRD QUARTER RESULTS
REPORTS THIRD QUARTER RESULTS
JERICHO, NY, February 11, 2011: American Learning Corporation (the “Company”) (NASDAQ:ALRN)
announced that the Company had achieved increases in revenues and decreases in its net losses for
the three and nine months ended December 31, 2010 compared to the prior year’s comparable periods.
For the quarterly period ended December 31, 2010, the Company reported revenues of $1,941,029 and
a net loss of $175,247 ($.04 net loss per share). By comparison, the Company had revenues of
$1,734,379 and a net loss of $266,512 ($.06 net loss per share) for the three months ended December
31, 2009.
During the three and nine month periods ended December 31, 2010, revenues increased approximately
12% and 15%, respectively, over the comparable periods in the prior fiscal year as a result of
increases in preschool programs and school staffing services.
| Three Months Ended | Nine Months Ended | |||||||||||||||
| 12/31/10 | 12/31/09 | 12/31/10 | 12/31/09 | |||||||||||||
| (Unaudited) | (Unaudited) | |||||||||||||||
Revenues |
$ | 1,941,029 | $ | 1,734,379 | $ | 5,709,925 | $ | 4,959,375 | ||||||||
Operating loss |
(175,827 | ) | (267,411 | ) | (593,898 | ) | (666,525 | ) | ||||||||
Net loss |
$ | (175,247 | ) | $ | (266,512 | ) | $ | (590,837 | ) | $ | (659,790 | ) | ||||
Net loss per share — basic and diluted |
$ | (0.04 | ) | $ | (0.06 | ) | $ | (0.12 | ) | $ | (0.14 | ) | ||||
Weighted average shares —
basic and diluted |
4,754,900 | 4,754,900 | 4,754,900 | 4,754,900 | ||||||||||||
Gary Gelman, the Company’s Chairman of the Board, stated that he is very pleased with the continued
organic growth experienced in the Company’s services. He also stated that the Company has now
initiated an aggressive search for accretive acquisition candidates to grow and maximize
shareholder value.
American Learning Corporation, through its wholly owned subsidiaries, Interactive Therapy Group
Consultants, Inc. and Signature Learning Resources, Inc., offers a comprehensive range of services
to children with developmental delays and disabilities.
For further information contact: Gary J. Knauer, Chief Financial Officer, American Learning
Corporation, One Jericho Plaza, Jericho, NY 11753; telephone number (516) 938-8000.