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8-K - 8-K - AMERICAN LEARNING Corpv328080_8k.htm

EXHIBIT 99.1

 

AMERICAN LEARNING CORPORATION

REPORTS SECOND QUARTER RESULTS

 

JERICHO, NY, November 12, 2012: 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.

 

For further information contact: Gary J. Knauer, Chief Financial Officer, American Learning Corporation, One Jericho Plaza, Jericho, NY 11753; telephone number (516) 938-8000.