The reported net earnings for the third quarter of 2001 were approximately $3.6 million, a $1.3 million or 54% increase over the net earnings of $2.3 million, for the same period of fiscal year 2000. Reported diluted earnings per share were $0.30 in the third quarter of 2001 versus $0.28 in the third quarter of 2000.
Revenues for the first nine months ended July 31, 2001 totaled $47.9 million, a $12.0 million, or 33% increase over the comparable period of fiscal year 2000. Exclusive of a special charge for the planned retirement of the Company’s founder, net earnings for the first nine months of fiscal year 2001 were $2.8 million or $0.28 per diluted share compared to $1.2 million, or $0.14 per diluted share for the same period of fiscal year 2000. The reported net earnings for the first nine months of fiscal year 2001 were $2.0 million, or $0.20 per diluted share.
John Murray, President and Chief Executive Officer, commented, We are very pleased with our strong third quarter operating results. Operationally, we continued to expand our revenue base and leverage our infrastructure. We also continued to invest heavily in product development as part of our ongoing commitment to educators and students. Strategically, we continued to expand distribution channels and entered into significant partnerships that we believe strengthen our comprehensive product offerings, providing the education sector with a stronger suite of products and services.
SOURCE: COMPANY PRESS RELEASE
