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Renaissance Learning Slashes Outlook
Renaissance Learning(RLRN Quote) slashed its second-quarter and full-year outlook, saying tightened state education budgets are resulting in lowered revenue.
The school improvement company now expects to earn about $8.8 million, or 25 cents a share, for the quarter on revenue slightly above $33 million. Wall Street had been looking for 27 cents a share on revenue of $37.60 million. ...
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