Computer Learning Centers announces preliminary fourth quarter results and approval to operate new Pennsylvania center.FAIRFAX, Va.--(BUSINESS WIRE)--Feb. 26, 1996--Computer Learning Centers, Inc. (Nasdaq National Market:CLCX) ("CLC"), a national provider of information technology and computer-related education and training, today announced it expects to report that revenues for the fourth quarter ended January 31, 1996 increased to between $12.1 million and $12.2 million from $10.4 million for the same period a year ago. Net income for the fourth quarter is expected to be between $850,000 and $950,000, or $.20 and $.22 per share, versus net income, exclusive of income from discontinued operations, of $479,000, or $.18 per share, for the fourth quarter last year. Management noted that there were approximately 60% more shares outstanding in the fiscal 1996 fourth quarter over the same quarter in 1995, primarily the result of the Company's initial public offering in June 1995. The Company also announced that on February 9, 1996 the Pennsylvania State Department of Education granted CLC approval to begin offering programs of study at the Company's new Valley Forge, Pennsylvania site. This site is staffed and operational, and classes are expected to begin in March 1996. Reid Bechtle, President and Chief Executive Officer of CLC, commented, "We are extremely pleased with the strong fourth quarter results, which were primarily the result of increased enrollment and the popularity of CLC's longer programs including associate degree programs. The total number of students attending all of the Company's Learning Centers at January 31, 1996 was 4,889, a 16.9% increase over the comparable prior year." Mr. Bechtle continued, "We are excited about offering CLC technology training programs in this suburban Philadelphia location, which will augment our existing presence in the city of Philadelphia. With this latest center we have opened three new sites within the last 60 days, increasing to 11 the total number of CLC locations nationwide." Computer Learning Centers provides information and computer-related education and training at 11 Learning Centers in the United States. The Company designs programs and courses to meet current information technology education needs, offering instruction in technologies such as client server, databases, networking and object-oriented programming. CONTACT: Computer Learnings Centers Inc., Fairfax Charles Cosgrove, CFO, 703/359-9333 or The Equity Group, New York Devin Sullivan, 212/836-9608 Tamara Ehlin, 212/836-9607 |
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