E-learning player posts Q1 profit

4 Jun 2004

SkillSoft, which acquired Irish e-learning firm SmartForce three years ago, has reported a profit of US$3.2 million, or 3 cents a share, compared with a loss of US$12.6 million, or 13 cents a share, a year ago.

The company reported sales of US$52.8 million during the quarter, up from US$43.6 million last year. It also reaffirmed its 2005 sales outlook of US$221 million to US$225 million range.

The maker of web-based learning technology reaffirmed its 2005 earnings forecast range of 20 cents a share to 22 cents a share.

SkillSoft’s CEO Chuck Moran commented: “Our review of the sales forecasts for the remainder of the fiscal year indicates we will achieve our planned total annual booking number, although it will be more weighted to the second half of the year. In light of this shift in bookings we felt it prudent to factor that into our quarterly estimates going forward.

“With the benefit of having many of the operational distractions put behind us in fiscal 2004, we have and will continue to fully focus on sales growth opportunities and continue to explore ways to leverage our cost structure in the most efficient manner practicable,” Moran said.

By John Kennedy