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Article: The American Education Corporation Announces Revenue Gains for the First Quarter of 2009.(Financial report)
- Article from:
- Business Wire
- Article date:
- June 3, 2009
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OKLAHOMA CITY -- The American Education Corporation (AEC or the Company) today reported record quarterly revenues for the first quarter of fiscal 2009. Revenues for the quarterly period grew by approximately 6 percent over the prior 2008 period. The first quarter is historically a seasonally slow period for both the Company and its industry segment.
For the quarter ended March 31, 2009, AEC's net after-tax loss increased from $71,784 in 2008 to $197,014 for the 2009 quarterly period. EBITDA for the quarter decreased from $268,751 to $129,301. The first quarter decline in earnings and EBITDA is largely attributable to an increase in sales commissions, and earnings ...