The Learning Company, Inc. Announces Second Quarter 1998 Results of $.34 Per Share
CAMBRIDGE, Mass., July 23 /PRNewswire/ -- The Learning Company, Inc. (NYSE:TLC) today announced its financial results for the three and six month periods ended June 30, 1998.
Revenues for the three and six month periods ended June 30, 1998 were $129,251,000 and $242,853,000 as compared to the prior year's revenues in the three and six month periods of $89,305,000 and $176,186,000.
Excluding amortization, acquisition and other charges in the three and six month periods ended June 30, 1998 of $58,063,000 and $214,883,000, adjusted net income for the three and six month periods ended June 30, 1998 would have been $25,175,000 and $45,885,000. Earnings per share for the three and six month periods ended June 30, 1998, excluding the effect of the amortization, acquisition and other charges, would have been $.34 and $.64 per share.
Michael Perik, Chairman and Chief Executive Officer of The Learning Company said, "The Learning Company continues to experience strong growth in its retail software business with year-over-year dollar sell-through up 26%. The continued sales penetration of sub-$1000 personal computers into the home consumer and school markets is a leading factor in the success that we have experienced in our business this year."
Kevin O'Leary, President of The Learning Company said, "Our line-up of new titles for third quarter 1998 is one of the most prolific in our history. New title launches for the third quarter will include Reader Rabbit's Reading Ages 4-6 and Ages 6-9, Reader Rabbit's Math Ages 4-6 and Ages 6-9, The ClueFinders' Math, The American Girls Premiere: Second Edition, Madeline 1st & 2nd Grade Reading Deluxe, The Baby-sitters Club 3rd Grade and 4th Grade Learning Adventures, Elmo's Preschool 30th Anniversary Edition, Mavis Beacon Teaches Typing Version 9, The Complete National Geographic: 109 Years of National Geographic on DVD and CD ROM, American Greetings Print!, Dogz III, Catz III, National Geographic Trip Planner Deluxe and The Oregon Trail 3rd Edition for DVD-ROM. In addition, we are continuing to build our Internet and on-line offerings that will feature our new "unlocking technology". Our Internet group continues to advance our proprietary applet technology that will allow us to download offerings and upgrades to our end-users through the use of Internet and broadband technology." |
