This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

American Learning Corporation Reports Fourth Quarter And Year End Results

American Learning Corporation (the “Company”) (NASDAQ: ALRN) announced revenues of $2,984,412 and a net loss of $1,115,706 ($.23 net loss per share) for the year ended March 31, 2011. By comparison, the Company reported revenues of $1,982,943 and a net loss of $823,142 ($.17 net loss per share) for the year ended March 31, 2010.

On March 31, 2011, the Company completed the disposition of certain assets of its wholly owned subsidiary, Interactive Therapy Group Consultants, Inc. (“ITG”) in the Upstate Region of New York State (the “Upstate Region”), pursuant to an asset purchase agreement. The Company received total compensation of $650,000, consisting of $200,000 in cash and a thirty-month note receivable in the amount of $450,000. In addition, the Company released John Torrens, ITG’s former President, from his non-competition agreement for a sum of $100,000 in cash. Accordingly, all results related to the Upstate Region have been reflected as discontinued operations.

  Three Months Ended   Years Ended
03/31/11   03/31/10 03/31/11   03/31/10
(Unaudited)
Revenues $ 945,508 $ 630,879 $ 2,984,412 $ 1,982,943
 
Operating loss from continuing operations (835,919 ) (258,993 ) (1,578,469 ) (1,023,718 )
 
Loss before discontinued operations (834,385 ) (256,256 ) (1,573,874 ) (1,014,246 )
 
Net loss $ (524,869 ) $ (163,352 ) $ (1,115,706 ) $ (823,142 )
 
Net earnings (loss) per share:
From continuing operations - basic
and diluted $ (0.18 ) $ (0.05 ) $ (0.33 ) $ (0.21 )
From discontinued operations - basic
and diluted $ 0.07   $ 0.02   $ 0.10   $ 0.04  
 
Weighted average shares –
basic and diluted 4,754,900 4,754,900 4,754,900 4,760,075

During the three months ended March 31, 2011 and 2010, the Company recognized stock-based compensation expense totaling $633,400 and $300, respectively, based on the fair value of stock options and warrants granted.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs