Business
Legacy Education Alliance, Inc. Announces Third Quarter of 2017 Results
Legacy Education Alliance, Inc. Announces Third 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 nine months ended September 30, 2017.\n \n \n Third Quarter 2017 Highlights\n \n \n \n Net income was $1.4 million or $0.06 per basic and diluted common \n share for the quarter ended September 30, 2017 compared with net \n income of $1.2 million or $0.05 per basic and diluted common share for \n the quarter ended September 30, 2016.\n \n \n Revenue was $25.2 million for the quarter ended September 30, 2017 \n compared to $22.5 million for the quarter ended September 30, 2016, an \n increase of $2.7 million or 12.0%.\n \n \n Non-U.S. revenue was $11.0 million for the quarter ended September 30, \n 2017 compared to $8.7 million for the quarter ended September 30, \n 2016, an increase of $2.3 million or 26.4%.\n \n \n Other Foreign Markets segment revenue was $4.7 million for the quarter \n ended September 30, 2017 compared to $3.3 million for the quarter \n ended September 30, 2016, an increase of $1.4 million or 42.4%.\n \n \n Cash sales were $24.5 million for the quarter ended September 30, 2017 \n compared to $21.5 million for the quarter ended September 30, 2016, an \n increase of $3.0 million or 14.0%.\n \n \n Total operating costs and expenses were $23.6 million for the quarter \n ended September 30, 2017 compared to $21.7 million for the quarter \n ended September 30, 2016, an increase of $1.9 million or 8.8%.\n \n \n Net cash provided by operating activities was $4.7 million in the nine \n months ended September 30, 2017 compared to net cash used in operating \n activities of $2.0 million in the nine months ended September 30, \n 2016, representing a period-over-period increase of $6.7 million.\n \n \n \n “Our continued strong execution on our key business initiatives keeps us \n squarely on the path of becoming the global leader in providing quality \n financial education,” said Anthony Humpage, CEO of Legacy Education \n Alliance. “We are pleased to report another quarter of exceptional \n financial and operational performanc...