Press Release
Serebra Reports Results for First Quarter of Fiscal 2010
VANCOUVER, BC CANADA - August 21 2009 - Serebra Learning Corporation (TSX VEN: SLC), a leader in global e-learning, today reported its results for the first quarter of fiscal 2010, which ended June 30 2009.
Key First Quarter Financial Highlights:
- Revenue of $237,003 compared to $236,557 for the same quarter a year ago
- Direct costs of $147,995 (2008: $115,717)
- Non-direct costs of $337,112 (2008: $430,074)
- Net loss of $248,104 (2008: $309,234)
"While we continue to be impacted by the economic environment, we have successfully stabilized our North American revenue. We are now so confident in Serebra Campus, our learning management system, that we have re-built our entire sales department based on its anticipated demand," said Ted Moorhouse, Serebras Chairman and CEO. "At the same time, our international easyLearning pipeline continues to grow despite what is clearly a very challenging global economy."
Moorhouse continued, "In the first quarter, we delivered industry-leading innovation with the introduction of Serebra Campus 3.5, we enhanced Serebra Connect with new features to improve buyer-seller communication, and we improved the log-in and course redemption experience of easyLearning. Overall, the essential role that our technologies and applications play in driving business productivity and competitive advantage is more relevant than ever."
About Serebra Learning Corporation
Serebra Learning Corporation is a leading learning management system developer and a provider of personal and professional development e-learning courses to individuals and organizations worldwide. With over 22 years of proven success, Serebra focuses on delivering quality education to help people improve their knowledge base. For more information about Serebra and our programs, visit www.serebra.com or call 800 567-7766.
SEREBRA LEARNING CORPORATION
Investor Relations
Ted Moorhouse
Chairman & CEO
Phone 604 676.5480
Fax 604 676.5490
Toll Free 800 567.7766
E-mail chairman@serebra.com
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Serebra Learning Corporation
Suite 1660 - 999 West Hastings Street
Vancouver, British Columbia
Canada V6C 2W2
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