NATIONAL EDUCATION CORP. REPORTS FIRST QUARTER RESULTS
NATIONAL EDUCATION CORP. REPORTS FIRST QUARTER RESULTS IRVINE, Calif., May 4 /PRNewswire/ -- National Education Corp.
(NYSE: NEC) today reported a net loss for the three months ended March 31, 1992, of ($2,641,000) or ($.09) per share, compared to a loss of ($5,604,000) or ($.19) per share for the prior year. Revenues for the period are $87,319,000 compared to last year's $84,749,000.
The company said that first quarter results were consistent with management's expectations. The company added that the seasonality of the company's training and education businesses adversely impacts the first half of the year. Despite the modest first quarter loss, the company reported that cash flow from operations remained significantly positive for the period. NATIONAL EDUCATION CORP. Summary Three Months Ended March 31, 1992 1991 Net revenues $87,319,000 $84,749,000 Net loss ($2,641,000) ($5,604,000) Primary loss per share ($.09) ($.19) Fully diluted loss per share ($.09) ($.19) Average shares outstanding: Primary 30,355,000 29,995,000 Fully diluted 37,688,000 34,830,000 -0- 5/4/92 /CONTACT: Corporate Communications of National Education, 714-474-9400/ (NEC) CO: National Education Corp. ST: California IN: SU: ERN
KJ-CH -- LA017 -- 6096 05/04/92 13:35 EDT
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|Date:||May 4, 1992|
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