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.

 


The following information was filed by American Learning Corp on Tuesday, November 13, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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