EXHIBIT 99.1
AMERICAN LEARNING CORPORATION
REPORTS SECOND QUARTER RESULTS
JERICHO, NY, November 12, 2012: American Learning Corporation (the “Company”) (NASDAQ:ALRN) announced revenues of $311,659 and $1,416,902 and net losses of $384,701 ($.08 net loss per share) and $503,258 ($.10 net loss per share) for the three and six months ended September 30, 2012, respectively. By comparison, the Company reported revenues of $465,754 and $1,345,651 and net losses of $379,187 ($.08 net loss per share) and $521,730 ($.11 net loss per share) for the three and six months ended September 30, 2011, respectively.
During the three months ended September 30, 2012 revenues decreased approximately 33.1% from the comparable period in the prior fiscal year as a result of decreases in revenue from preschool programs and school staffing services. Revenues for the six months ended September 30, 2012 increased 5.3% over the six months ended September 30, 2011.
| | | Three Months Ended | | | Six Months Ended | |
| | | 09/30/12 | | | 09/30/11 | | | 09/30/12 | | | 09/30/11 | |
| | | (Unaudited) | | | (Unaudited) | |
| Revenues | | $ | 311,659 | | | $ | 465,754 | | | $ | 1,416,902 | | | $ | 1,345,651 | |
| | | | | | | | | | | | | | | | | |
| Operating loss from continuing operations | | | (387,627 | ) | | | (383,782 | ) | | | (510,337 | ) | | | (562,545 | ) |
| | | | | | | | | | | | | | | | | |
| Net loss | | $ | (384,701 | ) | | $ | (379,187 | ) | | $ | (503,258 | ) | | $ | (521,730 | ) |
| | | | | | | | | | | | | | | | | |
| Net earnings (loss) per share: | | | | | | | | | | | | | | | | |
| From continuing operations - basic and diluted | | $ | (0.08 | ) | | $ | (0.08 | ) | | $ | (0.10 | ) | | $ | (0.11 | ) |
| From discontinued operations - basic and diluted | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.01 | |
| | | | | | | | | | | | | | | | | |
| Weighted average shares – basic and diluted | | | 4,919,615 | | | | 4,919,615 | | | | 4,919,615 | | | | 4,864,710 | |
American Learning Corporation, through its wholly owned subsidiaries, Interactive Therapy Group Consultants, Inc. and Signature Learning Resources, Inc., offers a comprehensive range of services to children with developmental delays and disabilities.
For further information contact: Gary J. Knauer, Chief Financial Officer, American Learning Corporation, One Jericho Plaza, Jericho, NY 11753; telephone number (516) 938-8000.
