Riverdeep Group has reported fourth quarter revenues of $51.9 million, an increase on 155 per cent on the same quarter last year.
Overall, revenues for the year ended June 30th increased by 226 per cent to $169.3 million as compared to $51.9 million in the previous year.
In its figures for Q4, released earlier today, the company reported an adjusted net income of $11.1 million and $25.6 million for the three months and year ended June 30th, 2002.
Mr Barry O’Callaghan, Executive Chairman of Riverdeep commented said this was the tenth consecutive quarter that the company had beaten consensus
"The economies of scale across our product lines and distribution channels are now evident and we are pleased to have beaten consensus for the tenth consecutive quarter," Mr O’Callaghan said.
"The maturing operating leverage of the business and improving operating margins demonstrate our ability to convert revenue growth into significant profits and cash flows. We remain confident in our ability to deliver consistent results in line with our guidance."
Riverdeep Group plc provides curriculum-based Internet and CD-ROM learning experiences for the K-12 market.