Learn.com Closes 2005 with Record Numbers and Second Straight Year of Profitability

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Learn.com®, the leader in creating and projecting power-on-demand e-learning, today announced that revenues for the fiscal year ending December 31, 2005 increased by over 50% year over year from 2004 while again achieving profitability showing an increase in Net Profit of over 500% year over year.

Learn.com®, the leader in creating and projecting power-on-demand e-learning, today announced that revenues for the fiscal year ending December 31, 2005 increased by over 50% year over year from 2004 while again achieving profitability showing an increase in Net Profit of over 500% year over year.

In addition, a record 136 new LearnCenter LMS/LCMS clients joined the Learn.com family in 2005 and 94% of the company’s existing On-Demand client base renewed their contracts. Some new enterprise clients added in 2005 were Auto Trader, CITGO Petroleum, Cort Furniture, Hobart, Linksys - A division of Cisco Systems, Qlogic, Quiznos, Segue Software, Simmons Bedding, Stock Building Supply, Universal Health Services, and Wackenhut.

"We are very excited to report our year over year revenue growth and profitability. The success of our efforts is reflected in our focus on our client’s satisfaction and on our core product lines. After a turbulent year in eLearning, fraught with a large number of mergers and acquisitions of dubious merit, Learn.com’s growth was 100% organic. Existing LearnCenter clients not only renewed their contracts, but increased their user licenses as they extended the LearnCenter beyond their enterprise. We also saw tremendous growth and traction from our Electronic Performance Support or Just-in-Time training division - Mentor CLS. We believe our growth rate coupled with our continued and stable profitability demonstrates the strength of our business model, which is focused on “On-Demand” delivery of a robust and configurable product that empowers our clients. Unlike most of the alternatives in our space, less than 20% of Learn.com’s revenues were attributable to “services” versus the average 60% of our public peers. We feel this represents the ease of use and configurability our clients’ experience using LearnCenter which allows them to focus on their initiative, and not just trying to get the system up and running,” said Jim Riley, President & CEO of Learn.com.

“With the close of 2005 Learn.com has more clients running on the most current version of LMS software than any other company in the industry. We have implemented a winning strategy that has contributed to both our profitability and our balance sheet, while helping us to build tomorrows technology today,” said Riley.

Other fiscal year 2005 highlights at Learn.com include:

  • Ranked #1 in Customer Loyalty in the Bersin & Associates LMS Customer Satisfaction 2005 study and a leader in 6 other categories
  • Ranked #1 in productivity software retail sales by the NPD Group
  • Only LMS company to be listed in 3 Gartner e-learning Magic Quadrants
  • Nominated in 6 of 9 categories for the “Best of 2005 E-Learning Awards” by the readers of E-Learning Magazine (twice as many as the nearest competitor)
  • Released 4 LearnCenter upgrades finishing the year with the release of LearnCenter® 9.0, the most flexible LMS/LCMS on the market.
  • Released 3 CourseMaker Studio upgrades including software simulation capability
  • Added New Learn2 Courses and Mentor EPSS to existing Libraries
  • Learn.com’s Mentor® EPSS increased its reach to 9 of the Fortune 20 Companies
  • 136 New LearnCenter clients added
  • 94% renewal rate of On-Demand LearnCenter clients
  • Increased new clients that switched from another LMS provider to the LearnCenter to 21
  • Announced a $40 Million Software Grant for US Education
  • Added to the US Office of Personnel Management’s GoLearn contract

About Learn.com

Learn.com® is the worldwide leader in creating and projecting power on-demand e?learning with more than 50 million end users around the globe. Our proven suite of solutions will empower your organization to administer every aspect of its training and learning initiatives, including design, delivery, tracking, and implementation. Learn.com’s unwavering commitment to understanding client needs and goals allows us to partner with our clients to increase business performance. The Learn.com family of solutions includes the award-winning LearnCenter® learning management system (LMS / LCMS), the CourseMaker Studio® authoring tool, Mentor® EPSS and the 1,100 title Learn2® online course library.

For more information please visit http://www.learn.com or call 954-233-4000

Learn.com, its logo, and LearnCenter are registered trademarks of Learn.com.

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