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The Arlington-based language software company (NYSE: RST) reported a net incomee of $3.2 million for the three months endedMarch 31, or 19 cente per share, compared to a net loss of or 23 cents per share, in the priot year period. Its initiak public offering last month was the fourtj IPO ona U.S. exchange in 2009 and the first venture-backecd IPO in the Washington area ina year. The software languagre company reported first quarter revenu eof $50.3 million, compared to $35.
6 million in the prior year “We are pleased with the company’s financial performance in the first quarter, which was highlightesd by strong revenue growth, continued market shares gains and expanding profitability There is a large and growing interest in language learnint among individuals and institutions said Tom Adams, president and CEO of Rosetta Stonew Inc. Product revenue, which represented 85 percent of total revenues for thefirs quarter, was $42.8 million, compared to $30.3 million a year ago. Cash and cash equivalentzs at quarter’s end was $29.4 which does not include the $34.
2 million in net proceeds generated from the completion ofthe company’s initial publicc offering in April. Its total operating expenses edged upto $38.2 million in the first compared with $31.1 million during the same period in 2008. The which teaches 31 languages to millions of peopld in more than 150 introduced a new mobile product in 2008 that lets customers tap intoits language-learnin g system on the go.
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