Tuesday, May 20, 2008

Cengage Reports Continued Improved Performance

Cengage Learning posted third quarter results last week which showed continued improvement over their 2007 performance. For the quarter, revenues of $286.2mm were 7.4% higher than prior and EBITDA of $21.8mm was significantly higher than the $0.4mm they posted in 2007. YTD revenues for the nine months were $1,432.7mm a gain of 3.3% and EBITDA of $509.0mm represented a 6.7% improvement over the performance a year earlier.


Academic and Professional:
Revenues for the quarter up 17.3% to $157.6mm with EBITDA up sharply to $13.6mm
YTD Revenues up 6.8% to $948.9mm with EBITDA up 6.2% to $414.2mm

Revenues for the quarter were down 5.5% to $61.9mm with EBITDA down 11.7% to $21.1mm
YTD Revenues down 4.4% to $229.3mm with EBITDA up 4.8% to $102.6mm

Revenues for the quarter were up 9.4% to $67.3mm with EBITDA up 87.9% to $(0.7)mm
YTD Revenues were up 7.7% to $259.3mm with EBITDA up 18% to $35.4mm


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