Company Reconfirms Guidance for the Current Fiscal Year of Approximately
$100,000,000 in Gross Site Contribution, $20,000,000+ in EBITDA, and Its First
Net Income in the Fourth Quarter
NEW YORK, Nov. 4 /PRNewswire-FirstCall/ --
Edison Schools Inc. (Nasdaq: EDSN) today announced that it will release its
first quarter results for the period ending September 30, 2002, on Thursday,
November 14, 2002, after the market closes. Following the release, the
Company will host a conference call with analysts and investors at 5:00 pm
E.T. to discuss results for the quarter. The Company said, in addition to
reports on the results of the quarter, it will provide more detailed guidance
for the remainder of fiscal 2003.
The company reconfirmed its guidance for the current fiscal year. It
expects to achieve (1) gross site contribution of approximately $100,000,000,
(2) its first annual EBITDA, net of stock based compensation expense, of at
least $20,000,000 and (3) its first net income in the fourth quarter of this
fiscal year.
Interested parties may listen to the call, which will be broadcast live
over the Internet, through the Company's website at
http://www.edisonschools.com. The earnings release will also be available on
the Company's website after the market closes. To access the webcast,
participants should visit the Investor Relations section of the website at
least fifteen minutes prior to the start of the conference call to download
and install any necessary audio software. A replay of the webcast will be
available through the Company's website one hour after the call until 5:00 pm
EST on Monday, November 18.
About Edison Schools
Edison Schools manages 150 public schools with a total enrollment of over
80,000 students. In addition, it serves over 30,000 students in its summer
programs. Through contracts with local school districts and public charter
school boards, Edison generally assumes educational and operational
responsibility for individual schools in return for funding that is comparable
to that spent on other public schools in the area. Over the course of three
years of intensive research, Edison's team of leading educators and scholars
developed an innovative, research-based curriculum and school design. Edison
opened its first four schools in August 1995, and has grown rapidly in every
subsequent year. For more information, please visit http://edisonschools.com.
Any statements in this press release and any other press release issued by
Edison on or about the date hereof about future expectations, plans and
prospects for Edison, including statements containing the words "believes,"
"anticipates," "plans," "expects," "will," and similar expressions, constitute
forward-looking statements within the meaning of The Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from
those indicated by such forward-looking statements as a result of various
important factors, including the risk factors discussed in our most recent
annual report on form 10-K/A filed with the SEC. The forward-looking
statements included in this press release represent Edison's estimates as of
November 4, 2002. Edison anticipates that subsequent events and developments
will cause its estimates to change. While Edison may elect to update these
forward-looking statements at some point in the future, Edison specifically
disclaims any obligation to do so. These forward-looking statements should
not be relied upon as representing Edison's estimates or views as of any date
subsequent to November 4, 2002.
SOURCE Edison Schools Inc.
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Related links:
http://www.edisonschools.com
CONTACT:
Adam Tucker, Edison Schools Inc.,
+1-212-419-1602
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