K12 Sees 2011 Revenues of $515-$520M vs $517M Est

K12 Inc. LRN announced today that total revenues for the year ended June 30, 2011 are expected to increase to between approximately $515 million and $520 million, consistent with prior guidance and representing a significant increase compared to revenues of $384.5 million for the year ended June 30, 2010. The Company's financial position is strong as evidenced by a cash balance of approximately $190 million at June 30, 2011. Furthermore, the Company had no bank debt other than notes payable and capital lease obligations for computers totaling approximately $25 million. This has also been a strong business development year with regard to the opening of new states and the removal or expansion of enrollment caps in several existing states that will impact future results.