Cengage Learning Holdings Ii, Inc. Reaffirms Revenue Guidance for 2020
February 13, 2020 at 08:30 am
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Cengage Learning Holdings II, Inc. provided revenue guidance for 2020. Subject to the risks associated with the evolving coronavirus situation in China, company's full year guidance is unchanged. This is underpinned by the solid third quarter and a better spring season performance in higher education, where company are on track. The company's full year outlook includes about $20 million of revenue to be closed in China in the balance of the year. Of this, around $10 million of revenue is at risk of slipping into fiscal '21 as a result of the unfolding coronavirus situation. Before any impact of China, the business is on track to deliver low single-digit revenue declines in the fourth quarter. This will further moderate the full year adjusted cash revenue decline to around 5%. For the full year, The company expects year-to-date growth to reverse and revenues to be broadly flat.
Cengage Learning Holdings II, Inc. is a global education technology company. The Company is organized into three core business units: Cengage Academic business, Cengage Work business, and Cengage Select. In the Cengage Academic business unit, the Company integrates U.S. Higher Education, International Higher Education and Secondary Education in order to leverage synergies across these businesses that share content, technology platforms and support services. The Cengage Work business unit services the workforce skills market and includes the Companyâs ed2go and Infosec businesses that leverage all the Companyâs relationships, content, and data to drive growth. The Companyâs third core business unit, Cengage Select, consists of four businesses, English language teaching (ELT), Research and Other (Australia K-12 and Milady), each serving select markets and customers. The Company serves the higher education, secondary education, workforce skills, ELT, and research markets around the world.
CENGAGE LEARNING HOLDINGS II, INC. 
