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THE LEARNING CO. REPORTS 40 PERCENT REVENUE GROWTH AND 35 PERCENT NET INCOME GROWTH FOR FIRST QUARTER

 THE LEARNING CO. REPORTS 40 PERCENT REVENUE GROWTH
 AND 35 PERCENT NET INCOME GROWTH FOR FIRST QUARTER
 FREMONT, Calif., Oct. 13 /PRNewswire/ -- The Learning Co. (NASDAQ:LRNG) today announced financial results for the first fiscal quarter which ended on Sept. 30, 1992. Compared to the same quarter last year, revenues for the first quarter increased 40 percent to $6.2 million from $4.4 million. Net income increased 35 percent to $740,000 from $550,000. Average common and common equivalent shares outstanding at Sept. 30, 1992, increased to 6,472,000 shares from 5,251,000 at Sept. 30, 1991, primarily due to the issuance of 1,000,000 shares in the company's April 28, 1992, initial public offering. As a result of the increase in the outstanding number of shares, earnings per share were 11 cents per share in both quarters.
 "Demand for The Learning Co. brand of educational software products continued to grow in both the home and school markets. During the quarter, we released two new titles for the IBM and compatible computers, expanding our line to 17 titles," said Bill Dinsmore, president and chief executive officer. "Time Riders in American History is an information-rich and highly engaging program that develops an understanding of famous Americans in U.S. history for ages 10 and up. Our latest release, Treasure Cove!, is a colorful undersea search for sunken treasures that combines science with thinking, reading and math skills for ages 5 to 9," he continued.
 The Learning Co. is a leading developer of quality educational personal computer software for children and young adults for use at home and at school. The company's strategy is to use the benefits of emerging technologies to provide highly engaging, easy-to-use software products that help build core learning skills, develop knowledge and facilitate effective written communication skills. The subject areas and learning objectives for the company's products are developed with input from outside educational professionals, parents, children and young adults to ensure that each new product is of the highest quality and matches an identified market opportunity.
 The company's products are designed to address the core educational needs, such as reading, math, writing and problem solving, common to all children and young adults. The company currently sells 29 products comprised of 17 titles operating on one or more platforms, including IBM-compatible and Apple Macintosh personal computers. These titles include: Reader Rabbit's Ready for Letters (3-5 years), Reader Rabbit 1 (3-6 years), Reader Rabbit 2 (5-8 years), MetroGnomes Music (4-7 years), Math Rabbit (3-7 years), Treasure Mountain! (5-9 years), Treasure Cove! (5-9 years), Super Solvers Outnumbered! (7-10 years), Super Solvers Midnight Rescue! (7-10 years), Super Solvers Spellbound! (7-12 years), Writer Rabbit (7-10 years), Think Quick! (7 and up), Ancient Empires (9-Adult), Operation Neptune (10-Adult), Time Riders in American History (10-Adult), The Children's Writing and Publishing Center (7-14 years) and The Writing Center (7-Adult).
 The Learning Co. is located at 6493 Kaiser Drive, Fremont, CA 94555; phone: 800-852-2255 (customer service), or 510-792-2101 (main number).
 THE LEARNING CO.
 Statements of Income
 (In thousands, except per share data)
 (unaudited)
 Three months ended
 Sept. 30
 1992 1991
 Net revenues $6,156 $4,383
 Cost of revenues 1,248 1,004
 Gross profit 4,908 3,379
 Operating expenses
 Sales and marketing 1,826 1,032
 Research and development 1,375 1,086
 General and administrative 651 403
 Total operating expenses 3,852 2,521
 Operating income 1,056 858
 Other income 147 37
 Income before provision for
 income taxes 1,203 895
 Provision for income taxes 463 345
 Net income $ 740 $ 550
 Net income per share 0.11 0.11
 Average common and common
 equivalent shares $6,472 $5,251
 -0- 10/13/92
 /CONTACT: Les Schmidt, chief financial officer, 510-792-2101 (financial contact), or Sharyn Fitzpatrick, 510-713-6011 (press contact), both of The Learning Co./
 (LRNG) CO: The Learning Co. ST: California IN: CPR SU: ERN


RS-GT -- SJ007 -- 9602 10/13/92 18:10 EDT
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Publication:PR Newswire
Date:Oct 13, 1992
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