TITLE

Plato Generates Less Revenue but Reduced Costs Cut Losses

PUB. DATE
January 2007
SOURCE
Electronic Education Report;1/12/2007, Vol. 14 Issue 1, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents the revenue report of Plato Learning Inc. in Bloomington, Minnesota. Plato's revenue decreases by 25.5% to $90.7 million in fiscal 2006. Net loss decreased from $27.7 million in fiscal 2005 to $22.5 million in fiscal 2006. Michael Morache, president and CEO of Plato, attributed the decrease of revenue to the higher rate decrease of perpetual license orders, timing of some new products and features, the new sales organizations and increase in the requirements for sales. In 2007, the company will add 8 to 10 online courses to its product portfolio and will continue to invest in product development that will cost $20 million to $25 million per year for the next two years.
ACCESSION #
23855899

 

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