23 Jul Renaissance Learning issues dividend
Wisconsin Rapids, Wis. – Renaissance Learning, Inc., a provider of advanced computer-based assessment and progress monitoring technology for pre-K-12 schools, announced a quarterly cash dividend of $.05 per share, payable Sept. 1, 2005 to shareholders of record as of Aug. 12, 2005.
Net income stood at $7.3 million, or 24 cents per share, a decline compared to the second quarter 2004, which saw a net income of $7.7 million and 25 cents per share. Revenues for the first half of 2005 were $55.9 million, down from the 2004 revenues of $61.5 million.
The company did, however, complete its $57 million acquisition of AlphaSmart Inc., a Los Gatos, California-based provider of portable computer-companion products for schools. For the first half of 2005, net income was $13.8 million, or 45 cents per share, an increase from $13.6 million, or 44 cents per share in the first half of 2004.