Despite poor economic conditions and recent increases in the costs of many household expenses, Children of America continues to make strong financial gains as we open in a variety of new markets across the country
DELRAY BEACH, Fla. (PRWEB) May 16, 2008
"Despite poor economic conditions and recent increases in the costs of many household expenses, Children of America continues to make strong financial gains as we open in a variety of new markets across the country," said Thad Pryor, CEO of Children of America.
"Children of America is experiencing rapid growth and is poised to become the nation's fastest growing child care provider," Pryor said.
Based upon results for the seven months ended April 30, 2008, Children of America's tuition revenues for the fiscal year ending September 30, 2008 will approximate $17 million, compared with 2007 revenues of $11.7 million. Children of America's most recent monthly results had revenues at $1.5 million and operating cash flow at approximately $100,000.
Children of America currently operates 16 child care centers and has an additional 10 centers that it projects will open by December 31. The locations are throughout New York, New Jersey, Pennsylvania and Delaware. Beginning in 2009, based upon 35 executed leases currently in development and a projected 40 to 50 leases expected to be executed each year, it is anticipated that approximately two centers will open per month. At that rate, Children of America will have over 100 centers opened and operating within the next five years with annualized revenues projected at $150 million.
This growth rate would make Children of America the fastest growing child care provider in the U.S.
About Children of America:
The company was formed 10 years ago and opened its first center in Woodbridge, VA in 1999. At that time, its revenues were approximately $750,000.
From 2000 until 2005, Children of America opened an additional seven child care centers in Virginia, resulting in steadily increasing revenue growth. In 2006 and 2007, eight centers opened – three in Virginia and five in Pennsylvania – and the company anticipates opening 10 additional centers by the end of 2008 in New York, New Jersey, Pennsylvania, and Delaware.