Revenues for the twelve months ended
"We are pleased to report positive earnings for the 4th quarter and fiscal year ended
"Our goal is to open another branch campus in the coming fiscal year," said Myhre. "We intend to seek approval to offer our first graduate level degree, and we plan to rebrand our schools using a university name that will allow us to consider other markets outside of the
Condensed Consolidated Statements of Operations Data Three Months Ended Twelve Months Ended March 31, March 31, ---------------------- ----------------------- 2009 2008 2009 2008 ---------- ---------- ----------- ---------- REVENUES $3,570,879 $2,558,709 $12,423,495 10,259,154 OPERATING EXPENSES Educational services and facilities 2,491,182 1,730,331 8,870,888 6,655,984 Selling, general and administrative expenses 805,138 879,829 3,135,703 2,555,032 ---------- ---------- ----------- ---------- TOTAL OPERATING EXPENSES 3,296,320 2,610,160 12,006,591 9,211,016 ---------- ---------- ----------- ---------- OPERATING INCOME (LOSS) 274,559 (51,451) 416,904 1,048,138 OTHER INCOME 5,588 18,053 37,985 62,784 ---------- ---------- ----------- ---------- INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 280,147 (33,398) 454,889 1,110,922 INCOME TAX EXPENSE (BENEFIT) 108,573 (1,294,473) 156,574 (1,294,473) ---------- ---------- ----------- ---------- INCOME FROM CONTINUING OPERATIONS 171,574 1,261,075 298,315 2,405,395 LOSS FROM DISCONTINUED OPERATIONS - (98,715) - (81,181) ---------- ---------- ----------- ---------- NET INCOME $171,574 $1,162,360 $298,315 $2,324,214 ---------- ---------- ----------- ---------- BASIC NET INCOME PER SHARE $0.02 $0.13 $0.03 $0.28 ========== ========== ========== =========== DILUTED NET INCOME PER SHARE $0.02 $0.13 $0.03 $0.25 ========== ========== ========== =========== Condensed Consolidated Balance Sheets March 31, March 31, 2009 2008 ----------- ----------- Current Assets $3,603,064 $3,302,272 Total Assets 6,313,861 5,754,635 Current Liabilities 748,042 575,161 Total Liabilities 979,659 705,898 Stockholders' Equity 5,334,202 5,048,737
About Broadview Institute
Broadview Institute, Inc. offers private career-focused post-secondary education services through its wholly-owned subsidiary, C Square Educational Enterprises, Inc. (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-K). 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 of Financial Condition and Results of Operations" sections of Broadview Institute's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, 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.