Search Articles
Reproduction permitted for personal use only. For reprints and reprint permission, contact reprints@wistechnology.com.
Renaissance Learning sells unprofitable subsidiary
March 2, 2005
Renaissance Learning Inc., a provider of education products in Wisconsin Rapids, has sold Generation21 Learning Systems LLC to the subsidiary's president, John Stearns.
Generation21 lost $4.6 million before taxes on $2.6 million in sales in 2004. Renaissance Learning said it had looked for strategic alternatives over the past few years and decided the sale to Stearns was its best option.
The company will record a $600,000 gain for the sale, including a $1 million one-time tax benefit. Stearns will make a small cash payment up front and additional payments contingent on Generation21's sales through 2011.
Generation21 lost $4.6 million before taxes on $2.6 million in sales in 2004. Renaissance Learning said it had looked for strategic alternatives over the past few years and decided the sale to Stearns was its best option.
The company will record a $600,000 gain for the sale, including a $1 million one-time tax benefit. Stearns will make a small cash payment up front and additional payments contingent on Generation21's sales through 2011.
Add Your Comment
Comment Policy: WTN News accepts comments that are on-topic and do not contain advertisements, profanity or personal attacks. Comments represent the views of the individuals who post them and do not necessarily represent the views of WTN Media or our partners, advertisers, or sources. Comments are moderated and not immediately posted. Your email address will not be posted.
WTN Media cannot accept liability for the content of comments posted here or verify their accuracy. If you believe this comment section is being abused, contact edit@wistechnology.com.
Advertisement
Most Popular Stories
- Madoff computer programmers arrested; could face 30 years in $60B fraud
- HIPAA - Past, Present, and Future
- Seven secrets of a Steve Jobs presentation
- Myth busters: Why some things you hear about venture capital are wrong.
- Alice.com closes $6 million in new funding, raises total investment to $10.4M for online household goods shopping site
Advertisement
Featured EventsMore…
More Stories
- Stem cells may improve heart bypass results
- The future of ERP
- UW-Madison receives $9.5 million Gates Foundation grant
- Health insurance costs more in Wisconsin
- A freakonomic view of climate change
- C.O.R.E Jobs Act targets state’s economic strengths
- Online identity widget conceals email and shares social profiles
- API Healthcare introduces new generation of Navigator
- NanoRite board sets strategic direction for the center, elects officers
- HIPAA - Past, Present, and Future
WTN Media Presents
