Scientific Learning Corp. Reports Unaudited Sales Results for the Third Quarter and Year to Date Ended September 30, 2019; Provides Sales Guidance for the Year 2020
For year-to-date, the company reported total sales were $11.7 million, compared to $13.4 million a year ago. For K12, the results were $9.7 million as compared to $11.5 a year ago. The other product lines, including International, Private Provider and Home, posted sales of $2.1 million Third Quarter YTD 2019, compared to $2.0 million in the prior year, representing an increase of 5%.
The company provided sales guidance for the year 2020. The company expected to incur severance costs of approximately $75,000 in the fourth quarter and expect total sales to be reduced by $1 million by $1.3 million in 2020, as a result of this action.