Greenwood Hall, Inc. reported earnings results for the third quarter and nine months ended May 31, 2016. For the quarter, the company reported that overall revenue for the quarter was relatively flat at $2,155,082, compared to $2,170,894 for the same quarter in 2015, primarily due to lower revenue from the company's legacy, non-EdTech business, compared to the same period in 2015. Net loss was $1,526,201 against $1,977,200 a year ago. Adjusted LBITDA was $174,237 against $700,059 a year ago.

For the nine months, the company reported net loss of $7,007,214 against $4,771,058 a year ago. Adjusted LBITDA was $2,368,773 against $3,013,288 a year ago.

The guidance for fiscal year 2017 is for the period September 1, 2016 – August 31, 2017 and compares against projected results for the twelve-month period from September 1, 2015 through August 31, 2016.  Based on the existing and new service contracts for the company's strategic EdTech offerings, Management anticipates fiscal year 2017 revenues related to the company's EdTech business to increase by up to 90-100% and could be in the range of up to $11.5 million to $12.2 million, compared to projected EdTech revenues of approximately $6.0 million to $6.3 million for fiscal year 2016. Revenue pertaining to the company's legacy and non-strategic offerings are anticipated to be in the range of up to $250,000 to $500,000, compared to projected legacy business revenues of approximately $1.3 million to $1.4  million for fiscal year 2016. The Company anticipates having positive Adjusted EBITDA for the full fiscal year 2017.