Broadband Learning Corporation Reports 2008 Q1 Results

Broadband Learning Corporation ("Broadband Learning") (TSX VENTURE:BLC), a
participant in the rapidly expanding distance learning market, today reported
its unaudited financial results for the three months ended March 31, 2008.




Three months ending                                          March 31,
                                              ------------------------
($000s, except per share amounts)                2008            2007
                                              ------------------------
                                              ------------------------
Sales                                            $238            $578
Gross Profit                                      142             222
Loss from operations                           (1,774)           (492)
Net income (loss)                             ($1,774)          ($484)
Earnings (loss) per share (basic & diluted)    ($0.06)         ($0.02)
Total assets                                  $12,193          $1,664



Revenues for the first quarter of 2008 are down significantly from 2007,
reflecting the fact that throughout the first quarter of 2007 the Company's full
efforts have been focused on executing the first phase of a roll-out of
installation of its significant digital media project. At quarter end, 5,263
screens providing advertising and other content had been installed in beauty
salons across the United States. As of today's date, the 7,000 screen target for
the first phase of the digital media project roll-out has been exceeded.


Although very substantial efforts and costs have been invested in this project,
revenues are not expected to commence until later this year. Once the digital
media project installations have become established, the Company expects to
return more of its attention to pursuing opportunities and sales in its more
traditional areas of distance learning. Gross Profit for the first quarter of
2008 is down from 2007, although 2008 gross profit margin increased
significantly over 2007 due to a profitable one off project.


Operating Loss and Net Loss for the first quarter of 2008 both increased
significantly from 2007 primarily because while very substantial efforts and
costs have been invested in this project, revenues are not expected to commence
until later this year.


About Broadband Learning Corporation

Broadband Learning Corporation produces, delivers, supports and manages distance
learning content for professionals, corporations and consumers using proprietary
technology and worldwide distribution capabilities. The Company is addressing
the professional development market by providing a patented Internet-based
learning system with on-demand access, multimedia educational resources, and
administrative management capabilities. The Company provides wide area network
and satellite services across North America. Broadband University is a brand
name used by the Company's wholly-owned subsidiary Broadband Learning Inc. to
focus on the distance learning markets using patented technology under a license
agreement with School Improvement Network, Inc. of Salt Lake City, Utah. In
2007, the Company formed a new subsidiary, BL Media Inc. to undertake the
Company's digital media operations.


This press release may contain forward-looking statements relating to, among
other things, Broadband Learning's expectations concerning future product demand
and growth opportunities and customer acceptance of its products. These
forward-looking statements are neither promises nor guarantees, but involve
risks and uncertainties that may cause actual results to differ materially from
those in the forward-looking statements. Broadband Learning disclaims any
obligation to publicly update or revise any such statements.


This news release will not constitute an offer to sell or the solicitation of
any offer to buy the securities in any jurisdiction. The securities offered will
not be and have not been registered under the United States Securities Act of
1933 and may not be offered or sold in the United States.

Broadband Learning (Tier2) (TSXV:BLC)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024