GeoLearning Announces 66% Revenue Growth and 17% Net Profit for Q2 2004
â€œI am extremely pleased with our companyâ€™s ability to grow rapidly, consistently and profitably with a balanced mix of new business, renewal contracts and by expanding relationships with existing customers,â€ said Frank Russell, president and CEO of GeoLearning.
GeoLearningâ€™s revenues for the first six months of 2004 increased 82% over the same period a year ago, indicative of the companyâ€™s continued successful penetration in both the government and corporate marketplaces.
Other second quarter highlights at GeoLearning include:
- Awarded 3-year $2.56 million LMS and professional services contract with the New Jersey Department of Law & Public Safety (LPS) to deliver first responder training to 145,000 police, fire and emergency personnel.
- Awarded $1.26 million LMS and professional services contract with the U.S. Department of Health & Human Services with an option for four additional years.
- Extended contract with the U.S. Office of Personnel Management (OPM) for an additional optional year for over $1 million to provide hosting, security, maintenance and technical support for the Gov Online Learning Center at www.golearn.gov.
- Successfully completed the first phase of a 5-year contract with OPM valued at $7 million to provide Internet hosting and security services for the federal governmentâ€™s Electronic Human Resources Integration (EHRI) initiative and related Web-based human capital performance tools. GeoLearning built and successfully deployed the EHRI technology infrastructure in just six weeks. The initiative is being hosted at GeoLearningâ€™s new state-of-the-art Internet Data Center in Ashburn, VA and managed by GeoLearningâ€™s Government Services Division.
- Renewed or expanded existing contracts with Microsemi Corporation, US Oncology, United Technologies Corporation, GuideOne Insurance, U.S. Office of Personnel Management, U.S. Department of Commerce, General Services Administration (GSA), National Industries for the Severely Handicapped (NISH), Dell, Costco, Anixter International, CCA Global Partners, Sterling Bank, Harris Corporation and Wells Fargo.
- The release of version 4.3 of its GeoMaestroâ„¢ enterprise Learning Management System (LMS). GeoMaestro 4.3 enables organizations to better assess, deliver and measure enterprise learning and development with a new dynamic reporting engine, integrated competency management tools, and enhanced administrative and scheduling features.
- Expanded corporate headquarters in West Des Moines, IA with the opening of the new GeoLearning Technology Center. The new office space supports approximately 50 new employees in technical services, IT, quality assurance and systems integration.
- Named to TrainingOutSourcing.com‘s list of the Top 20 Companies in the Training Outsourcing Industry. Selection to the list was based on experience in managing multi-year engagements, commitment to training business process outsourcing (BPO) services, recognition as a leading outsourcing service provider (OSP) in the training industry, range of capabilities, and talent level of staff.
About GeoLearning, Inc.
GeoLearning is the leading provider of ASP-hosted human capital management and development (HCMD) solutions, having been chosen by more than 350 organizations around the world to manage learning and development. The companyâ€™s GeoMaestroâ„¢ and GeoExpressâ„¢ learning management platforms offer robust registration, tracking and reporting functionality crucial for managing enterprise-wide learning, development and knowledge acquisition. With no hardware or software to install, GeoLearningâ€™s ASP-hosted platforms can be deployed quickly, allowing clients to efficiently manage human capital development, accelerate critical business processes, and drive organizational performance. Additional information is available at www.geolearning.com.