Cambium Learning Group Reports First Quarter 2017 Financial Results
Digital Segments Learning A-Z and ExploreLearning Record Double-Digit Top Line Growth
DALLAS, May 04, 2017 (GLOBE NEWSWIRE) — Cambium Learning® Group, Inc. (NASDAQ:ABCD) (the “Company”), a leading educational solutions and services company committed to helping all students reach their full potential, announced today financial results for its first quarter ended March 31, 2017.
“Cambium Learning Group delivered solid results in the first quarter, our seasonally lowest-volume quarter of the year,” said John Campbell, Chief Executive Officer. “Our 100% digital segments Learning A-Z and ExploreLearning recorded Bookings increases in the double digits, even with our ExploreLearning segment up against a very strong comparison from last year. The resilience of our emerging higher-margin business model, along with a lower interest burden, drove net income growth from a year-ago loss, and our historical first quarter Cash Income loss was flat with last year despite an overall Bookings decrease of 10%. Our solutions continue to be recognized for excellence, recently winning 15 awards, and Learning A-Z was again lauded as being one of the best places to work in Arizona. We have begun the year on strong executional footing, making selected investments in growth and building our sales pipeline as we move toward the important back-to-school season.”