November 8, 2010
Princeton Review Losses Continue
By Brandon Butler
Losses for The Princeton Review Inc., the Framingham-based test preparation company, continued in the third quarter despite an increase in revenues.
The company lost $8.7 million even though revenues increased more than 50 percent to $54.4 million. About $23.4 million in revenue was from Penn Foster, the Pennsylvania-based online degree service the company bought last year.
Revenues for the test preparation division were down about 10 percent because of what company CEO Michael Perik called a "more cost-conscious retail test prep customer."
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