K12 INC
			Symbol			LRN

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K12 Inc. Reports First Quarter 2010 Results

2009-11-06 07:30 ET - News Release

K12's First Quarter Revenues Reach $106 Million, Operating Income Increases 38 Percent

HERNDON, Va. -- (Business Wire)

K12 Inc. (NYSE: LRN), a leading provider of proprietary, technology-based curriculum and education services created for online delivery to students in kindergarten through 12th grade, today announced its results for the first quarter of fiscal year 2010.

Revenues for the first quarter grew to $106.3 million, an increase of 20.0 percent over the first quarter in the prior year, primarily due to strong enrollment growth. EBITDA increased 38.8 percent to $18.9 million for the first quarter of fiscal year 2010 (FY 2010) over the same quarter in the prior year. Net income - K12 Inc. for the quarter was $7.1 million as compared to Net income - K12 Inc. of $5.9 million in the same period in the prior year. Operating income improved to $12.7 million, an increase of 38.1 percent compared with the first quarter of fiscal year 2009 (FY 2009).

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