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New Horizons Worldwide Reports 18% Increase in Revenues for Third Quarter.



Business Editors

SANTA ANA Santa Ana, city, El Salvador
Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region.
, Calif.--(BUSINESS WIRE)--Oct. 25, 2000

New Horizons Worldwide, Inc. (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
: NEWH NEWH Network of Executive Women in Hospitality ), the world's largest independent provider of computer training, today announced revenues of $36.0 million for the third quarter ending September September: see month.  30, 2000.

This represents an increase of 18 percent over $30.6 million for the same period last year.

The Company also reported that its third-quarter financial results were at the upper end of the revised guidance announcement released September 26, 2000. Third-quarter net income was $2.8 million, or $0.26 per diluted di·lute  
tr.v. di·lut·ed, di·lut·ing, di·lutes
1. To make thinner or less concentrated by adding a liquid such as water.

2. To lessen the force, strength, purity, or brilliance of, especially by admixture.
 share, compared with the $3.0 million, or $0.30 per diluted share, for the third quarter of 1999. System-wide revenues, which include revenues for both company-owned and franchise training centers, totaled $135.8 million, up 20 percent from $113.3 million for the same quarter last year.

For the first nine months of 2000, revenues grew 32 percent to $106.6 million from $80.6 million for the same period in 1999. Net income for the first nine months of 2000 was $8.6 million, or $0.84 per diluted share, a 21-percent increase compared to net income of $7.1 million, or $0.71 per diluted share for the first nine months of 1999. System-wide revenues for the first nine months of this year totaled $395.3 million, up 21 percent from $325.7 million for the same period in 1999.

President and 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.  Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM).

The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs
 J. Bresnan commented, "Our franchise business continued to experience excellent growth as expected. Our same-center sales growth for the franchise network was 15 percent, and our overall same-center growth was 13 percent. As we stated previously, our third-quarter 2000 results were impacted by lower-than-expected revenues in certain company-owned locations, particularly in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . We are implementing tighter management control to improve sales results and realize enhanced margins across all our company-owned centers."

Bresnan noted additional highlights of the past quarter in which New Horizons:
-- Increased training center locations to 255 centers in 44 countries, compared
to 224 centers in 38 countries at this time a year ago.

-- Sold master, unit and subfranchise agreements in Ecuador, Israel, Central
America (Costa Rica, Panama, Guatemala, El Salvador and three new territories
that include Honduras, Nicaragua and Belize), Dominican Republic and
Bangladesh.

-- Opened international centers in Taiwan and Germany.

-- Signed training contracts with Lockheed Martin, Verizon, JD Power &
Associates and Hallmark.

-- Launched Center Management System (CMS), which enables enhanced
customer-relationship management by delivering class registration, session and
resource availability, accounts receivable and invoicing, all in one complete
view.

-- Reduced long-term debt to zero.

-- Was named to FORBES magazine's list of "Best 200 Small Companies in
America."

-- Was named to FORTUNE magazine's list of "Top 100 Fastest-Growing Companies
in America."

-- Was named revenue growth leader for European IT training providers by
International Data Corporation (IDC).


About New Horizons

New Horizons Worldwide, operating as New Horizons Computer Learning Centers, operates more than 250 training centers in 44 countries and trains over 2.4 million students per year. In addition to instructor-led classes and training via CD-ROM CD-ROM: see compact disc.
CD-ROM
 in full compact disc read-only memory

Type of computer storage medium that is read optically (e.g., by a laser).
, the Santa Ana-based company offers Web-based training, computer labs, certification exam preparation tools and 24-hour, seven-day-a-week help desk support through both company-owned and franchise-operated computer learning centers. For more information, visit www.newhorizons.com.

Except for historical information contained herein, the matters discussed in this press release are forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in such forward-looking statements. Such risks and uncertainties include, without limitation, the company's dependence on the timely development, introduction and customer acceptance of courses and new products, the impact of competition and downward pricing pressures, the effect of changing economic conditions, risks in technology development and the other risks and uncertainties detailed from time to time in the company's filings with the Securities and Exchange Commission.

                  CONSOLIDATED STATEMENTS OF EARNINGS
             NEW HORIZONS WORLDWIDE, INC. AND SUBSIDIARIES
             (In thousands, except for per share amounts)

                                               (Unaudited)

                                     Three Months      Three Months
                                        Ended             Ended
                                 September 30, 2000 September 30, 1999
Revenues
    Franchising
        Franchise fees                $         813  $         810
        Royalties                             6,166          5,120
        Other                                 1,627            670
                                    -------------------------------
        Total franchising revenues            8,606          6,600
    Company-owned training centers           27,364         23,981
                                    -------------------------------
        Total revenues                       35,970         30,581
Cost of revenues                             16,397         13,184
Selling, general and administrative
        expenses                             15,040         12,685
                                    -------------------------------
Operating income                              4,533          4,712
Investment income, net                           54             60
                                    -------------------------------
Income before income taxes                    4,587          4,772
Provision for income taxes                    1,835          1,761
                                    -------------------------------
Net income                            $       2,752  $       3,011
                                    ===============================

Basic Earnings Per Share              $        0.28  $        0.32

Diluted Earnings Per Share            $        0.26  $        0.30

Average common shares outstanding             9,853          9,545
Average common shares and
    equivalents outstanding                  10,572         10,135


                  CONSOLIDATED STATEMENTS OF EARNINGS
             NEW HORIZONS WORLDWIDE, INC. AND SUBSIDIARIES
             (In thousands, except for per share amounts)

                                              (Unaudited)

                                     Nine Months       Nine Months
                                        Ended             Ended
                                 September 30, 2000 September 30, 1999
Revenues
    Franchising
        Franchise fees                $       1,682  $       1,879
        Royalties                            17,611         14,756
        Other                                 4,114          1,987
                                    ---------------------------------
        Total franchising revenues           23,407         18,622
    Company-owned training centers           83,237         61,961
                                    ---------------------------------
        Total revenues                      106,644         80,583
Cost of revenues                             48,834         35,445
Selling, general and administrative
        expenses                             43,466         34,094
                                    ---------------------------------
Operating income                             14,344         11,044
Investment income (expense), net                 31            393
                                    ---------------------------------
Income before income taxes                   14,375         11,437
Provision for income taxes                    5,750          4,333
                                    ---------------------------------
Net income                            $       8,625  $       7,104
                                    =================================

Basic Earnings Per Share              $        0.89  $        0.75

Diluted Earnings Per Share            $        0.84  $        0.71

Average common shares outstanding             9,739          9,495
Average common shares and
    equivalents outstanding                  10,328         10,044
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Publication:Business Wire
Geographic Code:1USA
Date:Oct 25, 2000
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