Year-to-date revenues from continuing operations totaled
Loss from discontinued operations for the three months ended
The Company's consolidated financial statements presented for all periods
prior to 2008 have been reclassified to reflect the discontinued operations of
the Company's Media Production segment. As of
"We are extremely pleased with the Company's fourth quarter results and
our decision to discontinue the Media Production operations in
Condensed Consolidated Statements of Operations Data Three Months Ended Fiscal Year Ended March 31, March 31, 2008 2007 2008 2007 Revenues $2,558,709 $2,264,517 $10,259,154 $8,717,468 Operating expenses Educational services and facilities 1,730,331 1,601,068 6,655,984 5,467,243 Selling, general and administrative expenses 879,829 511,614 2,555,032 1,935,636 Total operating expenses 2,610,160 2,112,682 9,211,016 7,402,879 Operating income (loss) (51,451) 151,835 1,048,138 1,314,589 Interest income 18,053 13,592 62,784 31,399 Income (loss)from continuing operations before taxes (33,398) 165,427 1,110,922 1,345,988 Income tax benefit (1,294,473) - (1,294,473) - Income from continuing operations 1,261,075 165,427 2,405,395 1,345,988 Loss from discontinued operations (98,715) (23,172) (81,181) (1,181,853) Net income $1,162,360 $142,255 $2,324,214 $164,135 BASIC NET INCOME (LOSS) PER SHARE Continuing operations $.14 $.02 $.30 $.17 Discontinued operations (.01) - (.02) (.15) Net income per common-basic $.13 $.02 $.28 $.02 DILUTED NET INCOME (LOSS) PER SHARE Continuing operations $.14 $.02 $.26 $.15 Discontinued operations (.01) - (.01) (.13) Net income per common-diluted $.13 $.02 $.25 $.02 Condensed Consolidated Balance Sheets March 31, March 31, 2008 2007 Current Assets $3,302,272 $1,660,106 Total Assets 5,754,635 3,320,813 Current Liabilities 575,161 632,251 Total Liabilities 705,898 699,290 Stockholders' Equity 5,048,737 2,621,523
About Broadview Institute
Broadview Institute, Inc. operates a postsecondary, private propriety
career college through its wholly-owned subsidiary, C Square Education
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-KSB). 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 or Plan of Operation" sections of Broadview Institute's SEC filings, including, but not limited to, its annual report on Form 10-KSB and quarterly reports on Form 10-QSB, 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.