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Sylvan Learning Systems Q4 Earnings Rise On Higher Revenues- Update

(RealTimeTraders.com) - Before the bell Thursday, Sylvan Learning Systems Inc. (SLVN) announced fourth-quarter results, reporting earnings that increased from last year on a sharp rise in revenues.

The company reported pro forma income for the quarter of $22.1 million, or $0.47 per share. On GAAP basis, income from continuing operations for the quarter was $28.6 million, or $0.60 per share, compared to $5.4 million or $0.13 per share in the prior-year period.

Net income for the quarter, including discontinued operations, was $25.8 million, or $0.54 per share, compared to a net loss of $6.1 million, or $0.15 per share for the same period last year.

The Maryland-based provider of educational services stated that revenues for the quarter climbed 43% to $154.9 million from $108.2 million in the year-ago quarter.

Looking ahead, Sylvan expects earnings of $0.00-$0.01 per share on revenues of $120-$130 million for the first quarter, and $1.22-$1.24 per share on revenues of $590-$625 million for full year 2004.

SLVN closed trade at $30.14 on Wednesday.

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