NATIONAL EDUCATION CORP. REPORTS 1991 RESULTS
NATIONAL EDUCATION CORP. REPORTS 1991 RESULTS IRVINE, Calif., Feb. 10 /PRNewswire/ -- National Education Corp.
(NYSE: NEC), today reported net income of $8,983,000 or $.30 per share for the fourth quarter compared to net income of $1,158,000 or $.04 for the year-earlier period. Revenues for the quarter were $110,941,000 compared to $102,108,000 for the prior-year period.
For the 12 months ended Dec. 31, 1991, the company reported a profit of $5,359,000 or $.18 per share compared to a loss of $14,939,000 or ($.50) per share for the year earlier. The company said that results for the year were in line with its expectations and were an affirmation of its overall strategic direction. Cash flow for the year remained very strong and, as previously announced, the company repaid all of its outstanding bank debt at year end. NATIONAL EDUCATION CORP. Summary Three Months Ended Dec. 31, 1991 1990 Net revenues $110,941,000 $102,108,000 Net income $8,983,000 $1,158,000 Primary earnings per share $.30 $.04 Fully diluted earnings per share $.30 $.04 Average shares outstanding: Primary 30,210,000 29,719,000 Fully diluted 37,553,000 32,064,000 Twelve Months Ended Dec. 31, 1991 1990 Net revenues $385,424,000 $371,394,000 Net income (loss) $5,359,000 ($14,939,000) Primary earnings (loss) per share $.18 ($.50) Fully diluted earnings (loss) per share $.18 ($.50) Average shares outstanding: Primary 30,116,000 29,643,000 Fully diluted 36,818,000 31,943,000 -0- 2/10/92 /CONTACT: Corporate Communications of National Education Corp., 714-474-9400/ (NEC) CO: National Education Corp. ST: California IN: SU: ERN
AL-CH -- LA032 -- 8369 02/10/92 14:16 EST
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|Date:||Feb 10, 1992|
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