Business
Legacy Education Alliance, Inc. Announces Second Quarter 2016 Results
Legacy Education Alliance, Inc. Announces Second Quarter 2016 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 three \n months ended June 30, 2016.\n \n \n 2016 SECOND QUARTER HIGHLIGHTS\n \n \n \n Revenue increased $0.8 million or 4% to $23.4 million for the second \n quarter 2016, up from $22.6 million for the second quarter 2015.\n \n \n Revenue from attendance increased $4.4 million or 26% to $21.3 million \n for the second quarter 2016, up from $16.9 million for the second \n quarter 2015.\n \n \n Non-U.S. revenue was $8.7 million for the second quarter 2016 compared \n to $7.9 million for the second quarter 2015, an increase of $0.8 \n million or 10%.\n \n \n Cash sales were $22.7 million for the second quarter 2016, compared to \n $23.7 million for the second quarter 2015, a decrease of $1.0 million \n or 4%.\n \n \n Total operating costs and expenses were $22.7 million for the second \n quarter 2016, compared to $23.8 million for the second quarter 2015, a \n decrease of $1.1 million or 5%.\n \n \n Net income was $1.0 million, or $0.05 per basic and $0.04 per diluted \n common share, for the second quarter 2016, compared to a net loss of \n ($1.0) million, or ($0.05) per basic and diluted common share, for the \n second quarter 2015, an increase in net income of $2.0 million or \n $0.10 per basic and $0.9 per diluted common share.\n \n \n \n \"Building on the successes of the first quarter 2016 results, we are \n pleased to report further top-line and bottom-line improvements, with \n second quarter 2016 revenue up 4% to $23.4 million and net income of \n $1.0 million, or $0.05 per basic and $0.04 per diluted common share,” \n said Anthony Humpage, CEO of Legacy Education Alliance.\n \n \n “Our strategy of achieving growth through brand and channel \n diversification, as well as geographic market expansion, continues to \n gain traction. In the first half of the year we added the Elite \n Business Star™ brand. We’ve also seen continued double-digit growth \n of our non-U.S. revenue, and expect this trend to continue as we further \n penetrate th...