Business
Legacy Education Alliance, Inc. Announces Fiscal Year 2015 Results
Legacy Education Alliance, Inc. Announces Fiscal Year 2015 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, announces financial results for the fiscal \n year ended December 31, 2015.\n \n \n During 2015, Legacy Education Alliance continued to execute on its \n strategy of expanding and diversifying its operations globally. Cash \n sales, a key metric for evaluating the Company’s operating performance, \n increased 15% year-over-year, and non-U.S. cash sales increased 20% \n year-over-year. Revenue for the year decreased $9.3 million to $87.2 \n million, due primarily to the change in our revenue recognition policy \n with regards to DVD fulfillment. This policy was changed in 2014, and \n the effects of the change are anticipated to be immaterial in 2016.\n \n \n FISCAL YEAR 2015 OVERVIEW\n \n \n \n Cash sales were $94.1 million for fiscal year 2015 compared to $81.9 \n million in fiscal year 2014, an increase of $12.2 million or 15%.\n \n \n Revenue was $87.2 million for 2015 compared to $96.5 million for the \n previous year.\n \n \n Revenue from attendance increased $3.1 million, or 5%, in 2015 \n compared to the previous year.\n \n \n Non-U.S. revenue was $28.9 million for 2015 compared to $26.1 million \n in the previous year, an increase of $2.8 million or 11%.\n \n \n Net cash provided by operating activities was $2.8 million in 2015 \n compared to net cash used in operating activities of $(1.7) million in \n the previous year, an increase in cash of $4.5 million.\n \n \n Total operating costs were $90.3 million for 2015 compared to $90.9 \n million for the previous year, a decrease of $0.6 million or 1%.\n \n \n Net loss was $2.7 million, or $0.12 per basic and diluted common \n share, for 2015, compared to net income of $7.4 million, or $0.45 per \n basic common share and $0.42 per diluted common share, for the \n previous year.\n \n \n \n “Our cash sales, a key metric for evaluating our operating performance, \n increased 15% in 2015,” stated Anthony Humpage, CEO of Legacy Education \n Alliance. “Our performance has been driven primarily by foreign sales \n expansion, which ...