GeoLearning Announces 108% Annual Growth
GeoLearning, Inc., the leading provider of hosted learning management systems and e-learning content, announced today that annual revenues for the fiscal year ended December 31, 2003 increased 108% over the same period ended December 31, 2002. The company also achieved a net profit margin in excess of 9% on 2003 revenues.
“Our ability to consistently achieve lofty revenue and profit targets when many of our competitors have done neither is based on two factors,” explained Frank Russell, president and CEO of GeoLearning. “First, our competitive position in the marketplace as the leading provider of hosted e-learning products and services offers a distinct advantage to organizations seeking cost-effective learning solutions that can be deployed quickly and efficiently. The second factor, a direct result of our hosted ASP delivery model, is our ability to execute—both on our business plan and on our promises to customers.”
Other 2003 highlights at GeoLearning include:
- The addition or significant expansion of business with major corporate customers Dell, Nike, United Technologies Corporation, PPG, Securitas, Swedish American Health System, Sterling Bank, Harris Corporation, Berlitz Languages, National City Mortgage, Armstrong World Industries, VWR International, US Oncology, Millennium Chemicals and SITEL Corporation.
- Significantly expanding government business with more than 30 U.S. federal agencies, including several agencies within the Departments of Justice, Commerce and Treasury, as well as the Social Security Administration, the Office of Personnel Management (OPM) and GoLearn.
- Renewal of 96% of its existing client base.
- Voted “best learning management system” by the readers of Training Magazine in the inaugural Achieving Performance eXcellence Awards. The company was also named to The Eduventures 100 List as a “leading businesses transforming the education economy,” awarded 2003 Product of the Year by Call Center Magazine, and the federal government’s GoLearn e-training site at www.golearn.gov—powered by GeoLearning’s GeoMaestro™ platform—won a 2003 Grace Hopper Government Technology Leadership Award.
- The release of version 4.2 of its GeoMaestro™ enterprise Learning Management System (LMS) to comply with the most recent AICC and SCORM standards. Version 4.2 also features several enhanced enterprise productivity tools, including LCMS, classroom scheduling, competency management, 360-degree feedback, training analytics and Web-based ad hoc reporting.
- The release of version 4.09 of its Learning Content Management System (LCMS) with enhanced authoring and adaptive learning capabilities, a superior content extraction tool, and the ability to better leverage reusable SCORM-compliant content.
- The release of its Ad Hoc Enterprise Reporting System, a scalable, Web-based solution for reporting, analyzing and delivering vital human capital development information to decision makers and line managers throughout an organization
- The release of its GeoLearning Analytics learning measurement and benchmarking system in partnership with KnowledgeAdvisors.
- A strategic marketing alliance with Harvard Business School Publishing to host and resell HBSP’s e-learning programs and the Harvard ManageMentor® PLUS desktop reference tool.
About GeoLearning, Inc.
GeoLearning is the leading provider of hosted learning management systems and e-learning content for organizations around the world, including Fortune 1000 companies, government agencies and educational institutions. The company’s GeoMaestro™ and GeoExpress™ learning management platforms offer robust registration, tracking and reporting functionality that are essential to managing enterprise-wide learning, development and knowledge acquisition. With no hardware or software to install, GeoLearning’s ASP-hosted LMS platforms can be deployed quickly, allowing clients to increase speed to performance and maximize return on investment. Additional information is available at www.geolearning.com.