Sylvan's earnings quadruple, to $1.3 million, for quarter

April 28, 1995|By a Sun Staff Writer

Sylvan Learning Systems Inc. reported yesterday that its first-quarter profits more than quadrupled from its earnings a year ago as all of its varied lines of business enjoyed hefty revenue growth.

Earnings for the quarter jumped to $1.3 million, or 13 cents a share, compared with $298,000, or 3 cents a share, during the first quarter of 1994. Revenues almost doubled, to $17 million, as acquisitions supplemented increased sales in Sylvan's earlier lines of business.

Some of the strongest growth came in Sylvan's computer-based testing service, which generated revenues of $5.3 million compared with $1.7 million in the same quarter last year. Sylvan said royalties from its core business -- franchised tutoring centers -- increased 22.5 percent. Revenue from contract educational services, which include an arrangement under which Sylvan provides tutoring in some Baltimore schools, increased to $5.9 million from $2.7 million last year.

Sylvan Learning

Systems Inc.

Columbia ... ... ... ... ... Ticker ... ... ... ... ... Yesterday's

... ... ... ... .. .. .. ... Symbol ... ... ... ... ... Cls. ... Chg.

... ... ... ... .. .. .. ... SLVN ... ... ... ... .. .. 17 1/4 .. .. +Period ended

3/31 ... ... ... ... 1st qtr. ... ... ... Year ago ... ... ... Chg.

Revenue .. .. .. ... $17,003 ... .. .. .. $8,714 .. .. ... ... +95.1%

Net Income .. .. ... $1,282 ... ... .. .. $298 ... ... ... ... +330.2%

Fully diluted EPS .. $0.13 ... ... ... .. $0.03 .. ... ... ... +333.3%

Figures in thousands (except per share data.)

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