LAKEWOOD, Colo., Nov. 18, 2003 (PRIMEZONE) -- College Partnership, Inc. (OTCBB:CGPA), a leading provider of college planning products and services, today announced its results for the fiscal year ended July 31, 2003.
For the fiscal year ended July 31, 2003 the Company announced revenue of $17,642,480 as compared to revenue of $12,244,429 for the prior year. The Company reported a net loss of $562,223 representing a net loss to common stockholders of $ .02 per share for the fiscal year ended July 31, 2003.
Mr. Douglas Rother, Chief Executive Officer of College Partnership, Inc., commenting on the results for the fiscal year, stated; "We are pleased with the revenue growth experienced in fiscal 2003 and we expect continued revenue growth throughout fiscal 2004 through the expansion of our direct marketing campaigns and the use of additional sales channels."
Mr. Rother continued, "The net loss suffered this year was due in part to the Company's expansion into additional regions, the growth of our sales force and higher marketing and operating expenses, particularly those expenses associated with the mailing program that until recently was the principal method of creating seminar attendance. We believe that the improvements we have made by introducing a Web-based outreach and delivery system together with closer monitoring of the mailing operation will reverse this trend. As a result of these improvements, we expect a somewhat smaller loss for the first quarter of fiscal 2004 versus the fourth quarter of fiscal 2003 and that thereafter our operating results will continue to improve substantially in 2004."
About College Partnership, Inc.
College Partnership is a full-service college and career planning and preparation company, offering students and their families integrated resources and services to guide them through the college preparation and financial aid process. College Partnership's suite of products and services integrates career planning, college major/field of study selection, college selection, college entrance testing and extensive automated searches for merit awards and financial aid packages.
College Partnership's products consist of printed materials, videocassettes and test preparation materials, college major/field of study and career assessment software, and databases accessible through CD-ROM and via the Internet. With the combined strengths of offering the identification of financial aid resources available, consulting, college targeting, scholastic planning and coaching tools, College Partnership is able to provide superior educational resources that help families to reduce college costs, save time, decrease stress and ensure students the highest probability of not only choosing the right school, but of gaining the ability to attend the most suitable school from an academic and financial point of view.
For more information, please visit www.cbsa.com
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results, specifically in the areas of future sales growth and profitability. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.