American Learning Corporation Reports Second Quarter Results

Nov 12, 2012, 13:00 ET from American Learning Corporation

JERICHO, N.Y., Nov. 12, 2012 /PRNewswire/ -- American Learning Corporation (the "Company") (NASDAQ: ALRN) announced revenues of $311,659 and $1,416,902 and net losses of $384,701 ($.08 net loss per share) and $503,258 ($.10 net loss per share) for the three and six months ended September 30, 2012, respectively.  By comparison, the Company reported revenues of $465,754 and $1,345,651 and net losses of $379,187 ($.08 net loss per share) and $521,730 ($.11 net loss per share) for the three and six months ended September 30, 2011, respectively. 

During the three months ended September 30, 2012 revenues decreased approximately 33.1% from the comparable period in the prior fiscal year as a result of decreases in revenue from preschool programs and school staffing services.  Revenues for the six months ended September 30, 2012 increased 5.3% over the six months ended September 30, 2011.

Three Months Ended

Six Months Ended

09/30/12

09/30/11

09/30/12

09/30/11

(Unaudited)

(Unaudited)

Revenues

$

311,659

$

465,754

$

1,416,902

$

1,345,651

Operating loss from continuing operations

(387,627)

(383,782)

(510,337)

(562,545)

Net loss

$

(384,701)

$

(379,187)

$

(503,258)

$

(521,730)

Net earnings (loss) per share:

     From continuing operations - basic        and diluted

$

(0.08)

$

(0.08)

$

(0.10)

$

(0.11)

     From discontinued operations - basic        and diluted

$

0.00

$

0.00

$

0.00

$

0.01

Weighted average shares – 

     basic and diluted

4,919,615

4,919,615

4,919,615

4,864,710

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.

SOURCE American Learning Corporation