August 5, 2011
Princeton Review Revenues Drop, Losses Lessen
The Framingham-based Princeton Review saw its revenues decrease 12 percent during the second quarter, while the company managed to cut its losses in half compared to the same quarter a year ago.
The company lost $6.2 million, which is less than the $12.9 million the company lost during the second quarter last year.
Revenues were $49.6 million compared to $56.2 million during the second quarter of 2010. The company said the decrease was caused primary by the company's sale of its tutoring segment at the start of the summer.
The company also sold its community college partnership division for $4 million during the quarter, which it said eliminated a business line that was not core to its overall strategic plan.
WBJ Web Partners
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