Renaissance Learning Announces Fourth-Quarter and Twelve-Month Financial Results; Quarterly Revenues Up 28%, Earnings Up 117% Over Fourth Quarter 1999 still in line
maybe an upgrade we'll see.
WEDNESDAY, JANUARY 31, 2001 4:16 PM
- PRNewswire
WISCONSIN RAPIDS, Wis., Jan 31, 2001 /PRNewswire via COMTEX/ -- Advantage Learning Systems, Inc. (Nasdaq: ALSI), doing business as Renaissance Learning, Inc., a leading provider of learning information systems to the K-12 market, today announced financial results for the three- and twelve-month periods ending December 31, 2000. Revenues for the fourth quarter 2000 were $27.4 million, an increase of 28% over fourth quarter 1999 revenues of $21.5 million. Net income for the quarter was $6.2 million compared to net income of $2.9 million for the fourth quarter 1999, an increase of 117%. Earnings per share for the quarter were $0.18, compared to $0.08 per share for fourth quarter 1999.
(Photo: newscom.com )
Revenues for the year grew 28% to $107.0 million from $83.6 million for 1999. Net income for the year was $22.9 million compared to $17.1 million last year. Annual earnings of $0.67 per share represented a 34% increase over 1999 earnings of $0.50 per share.
"We have concluded another very successful year of growth," said Michael Baum, Chief Executive Officer of Renaissance Learning. "Fourth-quarter 2000 revenue exceeded fourth quarter 1999 by 28%. Quarterly earnings grew still faster because of improved operating leverage, and despite continued aggressive expenditures on Product Development for future expansion." |
