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EARNINGS

National Education Reports Flat Earnings

July 19, 1985|JEANNE BOYER

National Education Corp. reported flat earnings from operations for the second quarter ended June 30, but the company's net earnings of $2.2 million for the period were 24% below the $2.9 million net profit reported a year earlier.

Second quarter 1985 earnings included a non-recurring gain of $492,000 from the sale of the Newport Beach firm's home health-care operation, while the total for the second period of 1984 included a non-recurring gain of $2.1 million from the sale of an investment, offset in part by a non-recurring loss of $1.1 million from discontinuing a textbook series.

Revenues for the just-completed second quarter increased 11% to $46 million from $41.5 million for the same period a year earlier.

Income for the first half of 1985 fell 30% to $3.7 million from $5.3 million for the first six months of 1984. First-half revenues increased 8% to $89.7 million, compared to $82.8 million for the same period in 1984.

National Education operates technical and industrial training schools and publishes educational materials.

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