Revenues for the nine months ended
"Our earnings for the quarter were lower than expected due to lower-than-
projected enrollment numbers for the academic quarter ended
"Despite these influences, we still were profitable for both the three and
nine months ended
Condensed Consolidated Statements of Operations Data Three Months Ended Nine Months Ended December 31, December 31, 2008 2007 2008 2007 REVENUES $3,340,080 $2,986,682 $8,852,616 $7,700,445 OPERATING EXPENSES Educational services and facilities 2,417,946 1,811,870 6,379,706 5,058,249 Selling, general and administrative expenses 852,895 556,845 2,330,565 1,542,603 TOTAL OPERATING EXPENSES 3,270,841 2,368,715 8,710,271 6,600,852 OPERATING INCOME 69,239 617,967 142,345 1,099,593 OTHER INCOME 9,617 17,159 32,397 44,731 INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 78,856 635,126 174,742 1,144,324 INCOME TAX EXPENSE 43,724 - 48,001 - INCOME FROM CONTINUING OPERATIONS 35,132 635,126 126,741 1,144,324 INCOME (LOSS) FROM DISCONTINUED OPERATIONS - (5,493) - 27,975 NET INCOME $35,132 $629,633 $126,741 $1,172,299 BASIC NET INCOME PER SHARE $ - $0.08 $0.01 $0.14 DILUTED NET INCOME PER SHARE $ - $0.07 $0.01 $0.13 Condensed Consolidated Balance Sheets December 31, March 31, 2008 2008 Current Assets $2,435,038 $3,302,272 Total Assets 5,771,601 5,754,635 Current Liabilities 401,718 575,161 Total Liabilities 608,973 705,898 Stockholders' Equity 5,162,628 5,048,737
About Broadview Institute
Broadview Institute, Inc. offers private career-focused post-secondary
education services through its wholly-owned subsidiary, C Square Educational
Enterprises (d/b/a
The Company is publicly traded on the OTC Bulletin Board under the trading symbol BVII.
Cautionary Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations or forecasts of future events and can be identified by the use of terminology such as "believe," "estimate," "expect," "intend," "may," "could," "will," and similar words or expressions. Any statement that is not based upon historical facts should be considered a forward-looking statement. Forward-looking statements cannot be guaranteed and actual results may vary materially due to the uncertainties and risks, known and unknown, associated with such statements. Factors affecting the forward-looking statements in this release include those risks described from time to time in our reports to the Securities and Exchange Commission (including our Annual Report on Form 10-K). Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions investors should take into account when making investment decisions. Shareholders and other readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statements.
For further information regarding risks and uncertainties associated with Broadview Institute's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Broadview Institute's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Broadview Institute at (651) 332-8010.
All information in this release is as of
SOURCE Broadview Institute, Inc.