Business
Legacy Education Alliance, Inc. Announces Fiscal First Quarter 2019 Results
Legacy Education Alliance, Inc. Announces Fiscal First Quarter 2019 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, 2019.\n \n \n First Quarter 2019 Overview\n \n \n \n Net loss was $0.1 million or ($0.00) per basic and diluted common \n share for the three months ended March 31, 2019 compared to a net loss \n of $0.9 million or ($0.04) per basic and diluted common share for the \n three months ended March 31, 2018, a decrease in net loss of $0.8 \n million or $0.4 per basic and diluted common share.\n \n \n Revenue was $24.6 million for the three months ended March 31, 2019 \n compared to $25.8 million for the three months ended March 31, 2018, a \n decrease of $1.2 million or 4.7%.\n \n \n Combined UK and Other Foreign Market Segments revenue was $9.6 million \n for the three months ended March 31, 2019 compared to $9.8 million for \n the three months ended March 31, 2018, a decrease of $0.2 million or \n 2%.\n \n \n Cash sales were $28.1 million for the three months ended March 31, \n 2019 compared to $27.6 million for the three months ended March 31, \n 2018, an increase of $0.5 million or 1.8%.\n \n \n Total operating costs and expenses were $24.6 million for the three \n months ended March 31, 2019 compared to $26.2 million for the three \n months ended March 31, 2018, a decrease of $1.6 million or 6.1%.\n \n \n Net cash provided by operating activities was $3.5 million in the \n three months ended March 31, 2019 compared to net cash provided by \n operating activities of $1.4 million in the three months ended March \n 31, 2018, representing a period-over-period increase of $2.1 million \n or 145%.\n \n \n \n “We are pleased that the actions we undertook in 2018 to reduce costs \n and improve liquidity are having a positive effect on our financial \n performance, as evidenced by our increased cash sales and reduced \n operating expenses compared to the same period in 2018,” said James May, \n Interim Chief Executive Officer. “We are working to build on the \n momentum begun in this quarter where we experienced a sequential revenu...