Renaissance Learning (RLRN) Misses Estimates

Wisconsin Rapids, Wisconsin based Renaissance Learning, Inc RLRN on Monday after the market closed released financial results that missed Wall Street expectations. Renaissance Learning, Inc (RLRN) reported that its 2nd quarter net income rose 4.2% to $4.3 million, or 15 cents per share, up from $4.1 million, or 14 cents per share, a year earlier. The company added 500 new customer schools, which helped revenue climb 9.1% to $31 million, up from $28.5 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 17 cents per share, on revenue of $31.62 million. Shares of Renaissance Learning plummeted 4.80% to $14.29 on Friday, before regaining some of there losses during the Monday trading session. Renaissance Learning, Inc. is the maker of software-based assessment tools for students in pre-kindergarten to the final year of high school. The company's products provide daily and periodic assessment and progress monitoring, focusing on the three core curriculum areas of reading, writing, and math. The programs allow students personalized practice and instruction in reading, writing, and math. Read more from Benzinga's Company news.