DENVER, Dec. 24, 2003 (PRIMEZONE) -- College Partnership, Inc., (OTCBB:CGPA), a leading provider of college planning and preparation resources, today announced its results for the period ending October 31, 2003 (First Quarter of Fiscal Year Ending October 31, 2003).
The Company announced the following results for the period ended October 31, 2003 as compared to the same period from the prior year: total revenue for the three month period was $5,506,586 up more than 50% from $3,652,503; gross profit increased by 20% to $1,229,444 from $1,025,784; net loss of $438,614 was reported as compared to a net loss of $204,710 for the prior period.
Mr. Douglas Rother, Chief Executive Officer of College Partnership, commenting on the results for the current period, stated; "While we are pleased with our continued revenue growth, we are of course concerned about the increase in our direct marketing costs. However, we have recently experienced improvements in the trend of this cost item due to new marketing initiatives and we expect our operating results to continue to improve in the second, and ensuing, quarters of 2004 and to see a continued increase in annual revenue for fiscal 2004 over fiscal 2003."
About College Partnership, Inc.
College Partnership, Inc. is a full-service college and career planning and preparation company, offering students and their families' integrated resources and services to guide them through the college preparation and financial aid process. College Partnership Inc.'s suite of products and services integrates career planning, college major/field of study selection, college selection, college entrance testing and extensive automated searches for merit awards and financial aid packages. The Company assists the student and the family with study skills, tutoring and mentoring. College Partnership, Inc. also assists the student with all aspects of the student loan process, from application to placement and the Company will offer guidance to the student for vocational education, junior or community college and graduate school.
College Partnership Inc.'s products consist of printed materials, videocassettes and test preparation materials, college major/field of study and career assessment software, and databases accessible through CD-ROM and via the Internet. With the combined strengths of offering the identification of financial aid resources available, consulting, college targeting, scholastic planning and coaching tools, College Partnership, Inc. is able to provide superior educational resources that help families to reduce college costs, save time, decrease stress and ensure students the highest probability of not only choosing the right school, but gaining the ability to attend that school both academically and financially.
For more information, please visit, www.cbsa.com .
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results, specifically in the areas of future sales growth and profitability. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.