ST. AUGUSTINE, Fla., May 14, 2018 /PRNewswire/ -- Creative Learning Corporation (OTCPK: CLCN)
Creative Learning Corporation recorded a net profit of $39,000 in the second quarter of the 2018. This is an improvement of $198,000 from the same quarter in 2017. The results were due to higher revenue and lower professional fees, primarily lower legal expense. The Company reported revenues of $608,000 during the quarter compared to $582,000 in the same quarter of 2017 due to an increase in initial franchise sales.
Christian Miller, COO and CFO of the Company stated, "We believe we are beginning to see the results of the changes we have made in various segments of the business. We further believe there is room for continued reduction of expenses including professional fees. We hope to begin selling Sew Fun Studio franchises in June 2018 and we are on schedule with the release of our new Franchise Management Tool and Academic Enrichment Project. We are pleased with the progress we have made in these business segments."
The Company will hold a conference call at 2:00 p.m. EDT on May 22, 2018 to discuss these results.
Shareholders and interested participants may listen to a live broadcast of the conference call by dialing 1 (669) 224-3412 and referencing participant code 686-018-861 or join the call at https://global.gotomeeting.com/join/686018861 approximately 10 minutes prior to the call. An audio file of the call will also be archived for one week, and may be accessed on www.creativelearningcorp.com. If you would like to have a question answered on the call, please email it to [email protected] 48 hours prior to the call.
About Creative Learning Corporation
Creative Learning Corporation is the owner and developer of two unique and successful franchised children's enrichment programs: Bricks 4 Kidz® and Sew Fun Studios®. Both concepts are STEM-based educational programs offered as after-school enrichment classes, summer camps, day camps, in-school workshops and birthday parties. For additional information visit the Company's website at: www.creativelearningcorp.com.
Forward Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect Creative's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made including those factors detailed from time to time in filings made by Creative with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Creative does not intend and does not assume any obligation to update these forward-looking statements.