Business
Legacy Education Alliance, Inc. Announces Second Quarter of 2017 Results
Legacy Education Alliance, Inc. Announces Second Quarter of 2017 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 three months and six months ended June 30, 2017.\n \n \n Second Quarter 2017 Highlights\n \n \n \n Net income was $1.0 million or $0.04 per basic and diluted common \n share for the quarter ended June 30, 2017 consistent with net income \n of $1.0 million or $0.05 per basic and $0.04 diluted common share for \n the quarter ended June 30, 2016;\n \n \n Revenue was $24.8 million for the quarter ended June 30, 2017 compared \n to $23.4 million for the quarter ended June 30, 2016, an increase of \n $1.4 million or 6.0%;\n \n \n Non-U.S. revenue was $11.1 million for the quarter ended June 30, 2017 \n compared to $8.7 million for the quarter ended June 30, 2016, an \n increase of $2.4 million or 27.6%;\n \n \n Other Foreign Markets segment revenue was $5.0 million for the quarter \n ended June 30, 2017 compared to $3.4 million for the quarter ended \n June 30, 2016, an increase of $1.6 million or 47.1%;\n \n \n Cash sales were $26.8 million for the quarter ended June 30, 2017 \n compared to $22.7 million for the quarter ended June 30, 2016, an \n increase of $4.1 million or 18.1%;\n \n \n Total operating costs and expenses were $24.0 million for the quarter \n ended June 30, 2017 compared to $22.7 million for the quarter ended \n June 30, 2016, an increase of $1.3 million or 5.7%;\n \n \n Net cash provided by operating activities was $3.2 million in the six \n months ended June 30, 2017 compared to net cash used in operating \n activities of $0.6 million in the six months ended June 30, 2016, \n representing a period-over-period increase of $3.8 million.\n \n \n \n “We are pleased to report another quarter of consistent financial and \n operational performance,” said Anthony Humpage, CEO of Legacy Education \n Alliance. “Our brand and channel diversification, as well as geographic \n market expansion, continues to gain traction as indicated by our overall \n non-U.S. revenue increase of 28%. Also, our cash sales grew over 18% for \n the second quarter,R...