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