ST. AUGUSTINE, Fla. - January 14, 2014 - (BUSINESS WIRE) - Creative Learning Corporation (OTCBB:CLCN), owner and developer of Bricks 4 Kidz®, and Challenge Island®, the highly-popular children’s education and enrichment programs, is pleased to announce record revenue and net income for its fiscal year ended September 30, 2013.
Creative Learning Corporation's revenues for fiscal 2013 were a record $4.8 million and rose 41% compared with $3.4 million fiscal 2012. Net income for fiscal 2013 was a record $947 thousand, a 56.7% increase compared with fiscal 2012 income of $604 thousand. Net income per fully diluted share increased 60% to $0.08 compared with $0.05 last year.
"Our record results for fiscal 2013 benefitted from a 26% increase in Bricks 4 Kidz® franchise sales (in aggregate both domestically and internationally), plus sales from Challenge Island® franchises, and a 100% increase in Bricks 4 Kidz® royalties. We attribute this to the continued high demand for our franchise concepts, both domestically and internationally, and our franchisees’ performance," stated Chief Executive Officer Brian Pappas.
Creative Learning Corporation will conduct a conference call to discuss financial results of its fiscal 2013 at 1:00 p.m. EST on Friday, January 17th. The conference call number is 213-416-1560 and the access code is 5833282. Questions pertaining to the 10-k can be submitted to Brian Pappas at email@example.com prior to the call.
Creative Learning Corporation, operating under the trade names of Bricks 4 Kidz® and Challenge Island®, offers educational and enrichment programs to children ages 3-12+. Through a unique franchise business model that includes a proprietary curriculum and marketing strategies, plus a proprietary Franchise Marketing Tool (FMT), the Company provides a wide variety of programs designed to enhance students’ problem solving and critical thinking skills.
This press release may contain "forward-looking statements" that are made pursuant to the "safe harbor" provisions as defined within the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates," "believes," "intends," "estimates," and similar expressions. These statements are based upon management’s current expectations as of the date of this press release. Such forward-looking statements may include statements regarding the Company’s future financial performance or results of operations, including expected revenue growth, cash flow growth, future expenses and other future or expected performances. The Company cautions readers there may be events in the future that the Company is not able to accurately predict or control and the information contained in the forward-looking statements is inherently uncertain and subject to a number of risks that could cause actual results to differ materially from those indicated in the forward-looking statements. Further information on these and other potential factors that could affect the Company’s financial results is included in the Company’s filings with the SEC under the "Risk Factors" sections and elsewhere in those filings.