Business
Legacy Education Alliance, Inc. Announces Fiscal Second Quarter 2018 Results
Legacy Education Alliance, Inc. Announces Fiscal Second 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 second quarter ended June 30, 2018.\n \n \n Second Quarter 2018 Overview\n \n \n \n Net loss was $2.4 million or ($0.10) per basic and diluted common \n share for the three months ended June 30, 2018, compared to a net \n income of $2.0 million or $0.09 per basic and $0.08 per diluted common \n share for the three months ended June 30, 2017, an increase in net \n loss of ($4.4) million or ($0.19) per basic and ($0.18) per diluted \n common share.\n \n \n Revenue was $25.2 million for the three months ended June 30, 2018 \n compared to $26.2 million for the three months ended June 30, 2017. \n Revenue decreased $1.0 million or 3.8% during the three months ended \n June 30, 2018 compared to the same period in 2017.\n \n \n Combined UK and Other Foreign Market Segments revenue was $12 million \n for the period ended June 20, 2018 compared to $11 million for the \n second quarter of 2017, an increase of $1 million or 9.5%.\n \n \n Cash sales were $24.7 million for the three months ended June 30, 2018 \n compared to $26.8 million for the three months ended June 30, 2017, a \n decrease of $2.1 million or 7.8%.\n \n \n Total operating costs and expenses were $28.2 million for the three \n months ended June 30, 2018 compared to $24.2 million for the three \n months ended June 30, 2017, an increase of $4.0 million or 16.5%.\n \n \n \n \"There are a number of key developments in the second quarter that auger \n well for Legacy’s continued growth, despite the fact that we incurred \n headwinds that impacted our financial results this quarter, such as \n upfront expenses to develop, test and market new brands and products \n including our new alliance with Kathy Ireland, as well as the funding of \n our UK property development operations and the continued rollout of our \n new ERP/CRM system,” said Anthony C. Humpage, CEO. “We view these \n expenses as necessary investments in the future of the Company as we \n execute on our strategy of brand, product, and geogr...