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ORANGE COUNTY EARNINGS

National Education Losses Increase

February 07, 1996

IRVINE — National Education Corp. posted higher losses last year while revenue increased.

The Irvine provider of multimedia products and services for the education and training marketplace reported a net loss of $86.6 million, or $2.72 a share, for 1995, up from $63.5 million, or $2.14 a share, for 1994. The previous year's loss included $49.5 million from discontinued operations. Revenue increased 7% to $258.6 million from $241.6 million.

For the fourth quarter, the company lost $2.3 million, or 6 cents a share, which included nonrecurring charges related to an accounting change, downsizing the German operation and a write-off at ICS Learning Systems primarily for hardware costs associated with computer courses. The company earned $4.8 million, or 16 cents a share, for the comparable quarter a year ago, which included a one-time gain of $3.2 million from selling its interest in a start-up partnership venture. Revenue declined 3% to $68.3 million from $70.5 million.

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