Business
Legacy Education Alliance, Inc. Announces Fiscal First Quarter 2018 Results
Legacy Education Alliance, Inc. Announces Fiscal First Quarter 2018 Results.
About this update from Legacy Education Alliance, Inc.
[{"type":"text","content":"\n \n Legacy Education Alliance, Inc. (OTCQB:LEAI) (www.legacyeducationalliance.com), \n a leading international provider of practical, high-quality, and \n value-based educational training on the topics of personal finance, \n entrepreneurship, real estate, and financial markets investing \n strategies and techniques, today announced financial results for the \n first quarter ended March 31, 2018.\n \n \n First Quarter 2018 Overview\n \n \n \n Net loss was ($0.9) million or ($0.04) per basic and diluted common \n share for the three months ended March 31, 2018, compared to a net \n loss of ($0.3) million or ($0.01) per basic and diluted common share \n for the three months ended March 31, 2017, an increase in net loss of \n ($0.6) million or ($0.03) per basic and diluted common share. Net loss \n was negatively impacted by a $0.7 million increase in income tax \n expense or ($0.03) per basic and ($0.03) per diluted common share in \n 2018 compared to the same period on 2017.\n \n \n Revenue was $25.7 million for the three months ended March 31, 2018 \n compared to $21.9 million for the three months ended March 31, 2017, \n an increase of $3.8 million or 17.4%.\n \n \n Combined UK and Other Foreign Market Segments revenue was $9.8 million \n for the period ended March 31, 2018 compared to $9.3 million for the \n first quarter of 2017, an increase of $0.5 million or 5.6%.\n \n \n Cash sales were $27.6 million for the three months ended March 31, \n 2018 compared to $24.4 million for the three months ended March 31, \n 2017, an increase of $3.2 million or 13.1%.\n \n \n Total operating costs and expenses were $26.2 million for the three \n months ended March 31, 2018 compared to $22.7 million for the three \n months ended March 31, 2017, an increase of $3.5 million or 15.5%.\n \n \n Net cash provided by operating activities was $1.4 million in the \n three months ended March 31, 2018 compared to net cash provided by \n operating activities of $1.9 million in the three months ended March \n 31, 2017, representing a period-over-period decrease of $0.4 million. \n This decrease was primarily the result of a decrease in current \n liabilities for deferred revenue in 2018.\n \n \n \n \"We continue to execute on our key business initiatives, resulting in \n continued increases in revenue, customer fulfillment, and cash sales \n growth; ...