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THE LEARNING COMPANY REPORTS 41 PERCENT REVENUE GROWTH AND 71 PERCENT NET INCOME GROWTH FOR FISCAL YEAR 1992

 THE LEARNING COMPANY REPORTS 41 PERCENT REVENUE GROWTH
 AND 71 PERCENT NET INCOME GROWTH FOR FISCAL YEAR 1992
 FREMONT, Calif., Aug. 6 /PRNewswire/ -- The Learning Company (NASDAQ: LRNG) today announced record financial results for the fiscal year 1992 and fourth fiscal quarter which ended on June 30, 1992. Revenues for fiscal year 1992 increased 41 percent to $19.6 million. This is the second fiscal year in which revenues have grown more than 35 percent over the prior year. Net income increased 71 percent to $1.9 million and net income per share increased 64 percent to 36 cents per share.
 Fourth quarter revenues increased 55 percent over the comparable quarter last year to $5.9 million versus $3.8 million in fiscal year '91. Fourth quarter net income increased 51 percent to $675,000 or 11 cents per share versus $448,000 or 9 cents per share in fiscal year '91.
 "Our growth was the result of strong sales of products introduced prior to fiscal year 1992 and new titles introduced during fiscal year 1992," said Bill Dinsmore, president and CEO.
 The Learning Company 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 communications. 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 26 products comprised of 15 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), Super Solvers Treasure Mountain! (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), Children's Writing and Publishing Center (7-14 years) and The Writing Center (7-Adult).
 The Learning Company is located at 6493 Kaiser Drive, Fremont, CA 94555; phone: 800-852-2255 (Customer Service/Technical Support) or 510-792-2101 (main number).
 THE LEARNING COMPANY
 Statements of Income
 (In thousands, except per share data)
 Three Months Ended Fiscal Year Ended
 June 30, June 30,
 1992 1991 1992 1991
 Net revenues $ 5,931 $ 3,754 $ 19,592 $ 13,891
 Cost of revenues 1,212 820 4,414 3,533
 Gross profit 4,719 2,934 15,178 10,358
 Operating expenses
 Sales and marketing 1,669 823 5,401 3,855
 Research and development 1,276 1,097 4,708 3,624
 General and administrative 668 444 2,046 1,422
 Total operating expenses 3,613 2,364 12,155 8,901
 Operating income 1,106 570 3,023 1,457
 Other income (expense) 38 70 196 168
 Income before provision for
 income taxes 1,144 640 3,219 1,625
 Provision for income taxes 469 192 1,270 487
 Net income $ 675 $ 448 $ 1,949 $ 1,138
 Net income per share $ 0.11 $ 0.09 $ 0.36 $ 0.22
 Average common and common
 equivalent shares 5,995 5,304 5,353 5,293
 THE LEARNING COMPANY
 Balance Sheets
 (in thousands, except per share data)
 June 30, June 30,
 1992 1991
 ASSETS
 Current assets
 Cash and cash equivalents $13,980 $2,690
 Short-term investments -- 980
 Accounts receivable, net 3,776 2,353
 Inventories 439 324
 Prepaid taxes 320 --
 Deferred income taxes 100 41
 Other current assets 226 80
 Total current assets 18,841 6,468
 Property and equipment at cost, net 1,542 1,103
 Purchased software, net -- 85
 Investment 271 --
 TOTAL ASSETS $20,654 $7,656
 LIABILITIES & SHAREHOLDERS' EQUITY
 Current liabilities
 Accounts payable $1,339 $499
 Accrued payroll and related 311 312
 Accrued liabilities 400 78
 Income taxes payable 0 16
 Total current liabilities 2,050 905
 Shareholders' equity:
 Preferred stock -- 3,284
 Common stock 13,668 480
 Retained earnings 4,936 2,987
 Total shareholders' equity 18,604 6,751
 TOTAL LIABILITIES & EQUITY $20,654 $7,656
 -0- 8/5/92
 /CONTACT: Les Schmidt of The Learning Company, 510-792-2101/
 (LRNG) CO: The Learning Company ST: California IN: SU: ERN


MM -- SJ007 -- 7350 08/05/92 20:13 EDT
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Date:Aug 5, 1992
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