Cengage Learning Holdings Ii, Inc. Reports Earnings Results for the Third Quarter Ended December 31, 2020
February 10, 2021
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Cengage Learning Holdings II, Inc. announced earnings results for the third quarter ended December 31, 2020. For the third quarter, the company announced sales was USD 301.6 million compared to USD 308.7 million a year ago. Operating income was USD 10.4 million compared to operating loss of USD 24.6 million a year ago. Net loss was USD 35.9 million compared to USD 67.5 million a year ago. For the nine months, sales was USD 919.9 million compared to USD 1,001.7 million a year ago. Operating income was USD 56.4 million compared to operating loss of USD 13 million a year ago. Net loss was USD 75.4 million compared to USD 121.8 million a year ago.
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. 