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Cambium Learning swings to profit in Q4

Cambium Learning Group Inc. said its normalized net income for the fourth quarter amounted to 1 cents per share, compared with a loss of 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $558,130, compared with a loss of $1.4 million in the prior-year period.

The normalized profit margin increased to 0.4% from negative 4.3% in the year-earlier period.

Total revenue increased 7.1% on an annual basis to $35.7 million from $33.3 million, and total operating expenses totaled $31.7 million, compared with $31.6 million in the year-earlier period.

Reported net income came to a loss of $2.8 million, or a loss of 6 cents per share, compared to a loss of $3.2 million, or a loss of 7 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 4 cents per share, compared with a loss of 12 cents per share in the prior year.

Normalized net income was $1.8 million, compared with a loss of $5.3 million in the prior year.

Full-year total revenue increased on an annual basis to $144.9 million from $141.7 million, and total operating expenses decreased on an annual basis to $128.7 million from $133.7 million.

The company said reported net income came to a loss of $1.4 million, or a loss of 3 cents per share, in the full year, compared with a loss of $10.0 million, or a loss of 22 cents per share, the prior year.