Childtime Learning Centers announces preliminary second quarter results.FARMINGTON HILLS Far·ming·ton Hills A city of southeast Michigan, an industrial suburb of Detroit. Population: 81,400. , Mich.--(BUSINESS WIRE)--Nov. 11, 1996-- NOTE: Please be advised that Childtime Learning Centers has scheduled a conference call for Monday, Nov. 11, 1996 at 11 a.m. (EST EST electroshock therapy. EST abbr. electroshock therapy ) to discuss the following press release. Please call 800/360-6079 and request call leader "Harold" to participate. Childtime Learning Centers' (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CTIM CTIM Coupled Thermosphere Ionosphere Model ) CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President Harold Lewis said he expects Childtime revenues for the fiscal 1997 second quarter -- which ended Oct. 11, 1996 -- to exceed last year's second quarter by nearly 20 percent. "Our net earnings and earnings per share will also exceed last year's amount," Lewis says, "but will be slightly below analysts' estimates for the quarter." Lewis said the shortfall in anticipated earnings is due to softer than expected fall enrollment in certain regional markets and the costs associated with bringing on 10 additional centers during the second quarter. Center growth so far in fiscal 1997 has exceeded analysts' expectations, he said. "We expect these same issues to affect the entire third quarter," Lewis says, "resulting in net earnings which are expected to be lower than analysts' estimates and slightly below last year's pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma results. However, we expect our fourth quarter financial performance to be in line with current analysts' expectations as we benefit from stronger-than-anticipated center growth. "Our next major enrollment begins in January 1997, and we are optimistic that trends will return to a more normal level." Childtime expects to announce actual second quarter results approximately Nov. 20, 1996. Childtime is the nation's fifth largest child care provider. It employs over 4,000 professional educators and child care providers, and provides a vital service to approximately 20,000 children and their parents in 15 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Forward-looking statements appear in this press release. These statements reflect management's current expectations for future revenues and net earnings. Actual results may differ from those expectations. Factors that could cause results to differ materially include the timing of new center openings, changes in enrollment trends, and conditions in the general economy. CONTACT: Childtime Learning Centers Mike Yeager, 810/476-3200 or NES NES Nintendo Entertainment System NES Not Elsewhere Specified (shipping) NES Nuclear Export Signal NES National Election Studies NES Nashville Electric Service NES National Evaluation Systems, Inc. Nancy Burguess, 810/548-7444 |
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