New book by Larry Connors Click here Improve your trading - See how
Shares of PLATO Learning, Inc. (TUTR) hit a 52-week high on Tuesday after the Company reported its financial results for the second quarter ended April 30, 2009 and ourlook for the rest of the year.
Total revenue for the second quarter was $15.5 million, compared to $16.2 million in the second quarter of 2008. Net income for the second quarter was $123,000, or $0.01 per share, compared to a net loss of ($6.5) million, or ($0.27) per share, a year ago. Analysts had expect to see a loss of $0.07 for the second quarter of 2009.
Vin Riera, PLATO Learning President and CEO, commented in a conference call, "The achievement of our second consecutive quarter of profitability and continued strong increases in subscription orders, revenues and margins indicate a the strong progress that we are making in the marketplace and the benefits of our Software-as-a-Service business model. total subscription orders grew 55% during the quarter. Orders for PLE(TM), our flagship platform, grew 74%. Total orders grew 22%, our strongest second quarter in three years. We also experienced strong growth in subscription renewals and expansion of existing installations."
He continued, "We added 78 school districts on PLE. Of these 78 districts, 51 were new customers and 27 were existing PLATO customers. As of the end of the quarter, nearly 1,300 educational institutions were using PLE to deliver online instruction to their students, a 37% increase since this time last year."
Mr. Riera added, "Subscription revenues grew 15% in the quarter, making our 11th consecutive quarter of double-digit growth in subscription revenue. Subscription margins improved 14 percentage points to over 57%, improving total margins to 55%. In addition, our operating expenses, excluding restructuring charges in 2008, declined 28% and reflect the actions taken to streamline our cost structure."
He noted, "We are pleased with our growth during the quarter, however, we believe that it is premature to declare a full recovery in our market. General economic conditions remain uncertain at best. Despite the passage of the American Recovery and Reinvestment Act, educational institutions remain very cautious about their environment."
Mr. Riera concluded, "Our solid performance in the first half of the year and the time of year that we are entering, the primary K-12 buying season, allows us to provide an improved full year outlook for subscription orders. We now expect that subscription orders growth will exceed the high-single digit growth that we expected. As a result, we now expect percentage growth for full year subscription orders in the mid-teens. We expect subscription revenue growth in the low double-digit range for the year, and we expect to end the year with around $20 million in cash. We are not providing specific earnings guidance at this time."
KNOBIAS DISCLAIMER: All statements made in this article were made by the Company and do not in any way reflect the opinions of Knobias. Knobias is not a registered broker-dealer, nor investment advisor, and does not endorse or recommend any securities mentioned. This story is provided for informational purposes only and is not intended for trading purposes. Knobias shall not be liable for any actions taken in reliance of any information provided herein. Republication or redistribution of Knobias content is expressly prohibited without prior written consent of Knobias.com, LLC.
ABOUT KNOBIAS: Knobias is a premier financial information provider of trading and investing data covering all U.S. equities for investors and security professionals. Knobias is best described by its three major components: Real-time desktop applications providing quotes, charts, level 2, analysis etc.; Knobias RAiDAR providing thousands of real-time news stories, alerts and documents daily; Knobias fundamentals providing a comprehensive database of fundamental research information.
If your company wishes to participate in the EventX newswire, please contact Knobias: http://www.knobias.com
Knobias.com, LLC 601-978-3399 601-978-3675 info@knobias.com www.knobias.com/cmtx
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
