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CHILDTIME LEARNING CENTERS REPORTS RECORD FINANCIAL RESULTS FOR THIRD QUARTER

FARMINGTON HILLS, Mich., March 7 /PRNewswire/ -- Childtime Learning Centers (Nasdaq: CTIM) today announced record financial results for its third quarter and 40-week period which ended January 5, 1996.

The company reported revenues of $15,051,822, a 21% increase compared to $12,475,640 for last year's third quarter, and operating income of $1,107,005, a 21% increase compared to $915,709 during the third quarter of 1995. Pro forma net earnings per share were $0.14, compared with $0.11 per share a year earlier.

Forty week revenues were $49,001,754, a 19% increase compared to $41,275,457 at the end of the third quarter in 1995. The company reported operating income of $3,345,092 (after recognizing a previously disclosed $612,000 one time charge to reduce the carrying value of land held for disposal to its net realizable value), compared to $2,989,667 (after recognizing a $219,000 one time charge related to loss on the disposal of an operating center) for the forty week period ended January 6, 1995. Excluding the previously disclosed one time charges, operating income for the 40 weeks ended January 5, 1996 increased 23% over the forty weeks ended January 6, 1995.

Net income and earnings per share data are presented on a pro forma basis to reflect the company's initial public offering of 1,700,000 shares in February 1996, including additional shares outstanding, use of proceeds, and the termination of certain expenses concurrent with the IPO in 1996.

"We are extremely pleased with our results," said Childtime CEO and president Harold Lewis. "Our financial performance was right on target as was our growth in new centers."

Lewis said the company, which went public on February 2, has experienced significant growth in the past two years, expanding from 128 centers to 169 today.

"Since the initial public offering, we've established a goal to open 25 to 30 new centers a year nationwide over the next few years," Lewis said. "During fiscal '96 our goal was to open 20 to 25 new centers ... and since April 1, we've already opened 22 centers."

In addition to developing centers in traditional residential areas, Lewis said Childtime has been successful working with businesses, office parks, and hospitals in establishing child care centers in their facilities for the children of their employees. Childtime typically manages these "at-work" sites for companies and institutions.

Childtime, the nation's fifth largest childcare provider, employs over 4,000 professional educators and child care providers, and provides a vital service to approximately 19,000 children and their parents in 14 states and the District of Columbia.
 Childtime Learning Centers, Inc.
 Financial Highlights
 (In thousands, except per-share data)
 Twelve Weeks Ended Forty Weeks Ended
 1/5/96 1/6/95 1/5/96 1/6/95
 Net sales $15,052 $12,476 $49,002 $41,275
 Operating income $1,107 $916 $3,345 $2,990
 Net income $731 $591 $2,143 $1,980
 Average shares 5,199 5,177 5,199 5,172
 E.P.S. $0.14 $0.11 $0.41 $0.38


Pro forma information reflects the company's initial public offering, including additional shares outstanding, use of proceeds and the termination of certain expenses concurrent with the offering.
 -0- 3/7/96


/CONTACT: Mike Yeager of Childtime, 810-476-3200; or Nancy Lesinski of NES, 810-548-7444/

(CTIM)

CO: Childtime Learning Centers ST: Michigan IN: SU: ERN

TW-AM -- DETH034 -- 1296 03/07/96 16:20 EST
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Date:Mar 7, 1996
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