OAKLAND, Calif.--(BUSINESS WIRE)--Scientific Learning Corp. (OTC PINK:SCIL), a leading SaaS service provider that delivers neuroscience-based educational technologies, today announced that it has released its unaudited financial results for the second quarter of fiscal year 2018. Details of the quarterly results can be found at https://www.otcmarkets.com/stock/SCIL/disclosure.
Concurrently, the company announced that Jeffrey D. Thomas has assumed the role of CEO replacing Robert Bowen, who will continue to serve as Chairman of the Board of Directors. Thomas was named co-CEO in February after serving as the board’s Lead Independent Director. Before joining Scientific Learning, Thomas was involved with several private-equity backed education companies in CEO and executive chairman positions. He served for over 11 years as CEO of the Ambassadors Group Inc. and six years as president and CFO of Ambassador International, both publicly-traded, educational travel companies.
Bowen, who has served as Chairman of the Board since 2002, stated that as the company implements its strategic shift to focus on the large and rapidly expanding English language learning market, the time is right to hand the reins to Thomas.
“Jeff has a unique skill set that will allow us to continuously improve and innovate our Fast ForWord product line; grow our existing customer base in the K-12 market and our clinical, consumer, and international channels; and at the same time expand into a new and burgeoning market,” said Bowen. “Under his leadership, Scientific Learning will continue its leadership role in using the latest advances in neuroscience and technology to help to deliver fast learning gains to all students, including struggling readers, English language learners, and students with disabilities.”
About Scientific Learning Corp.
Based in Oakland, Calif., Scientific Learning is a leading SaaS service provider that delivers neuroscience-based educational technologies. Scientific Learning’s programs have been used by more than 2.8 million learners in more than 2,600 K-12 schools in the United States, by over 500 private practice clinicians, by thousands of students via a direct-to-consumer channel, and in over 55 countries via value-added resellers. The company’s Fast ForWord® programs cross-train foundational language and cognitive skills necessary for rapid English language development, while Reading Assistant™ uses speech verification technology to provide real-time corrective feedback to students as they read and speak, in a manner similar to that of an individualized language and reading coach.
Safe Harbor Statement: The information posted in this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. The forward-looking statements in this release include statements regarding plans to shift the Company’s business focus towards China. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Factors which could cause results or events to differ from current expectations include, among other things: the inability to complete a financing transaction sufficient to complete the acquisition of BrainMaps and support BrainMaps’ growth in China at terms that are reasonable to the Company or at all; the inability to secure approval of the acquisition from SCIL’s board of directors or its shareholders; general economic and business conditions; effects of potential geopolitical unrest and regional conflicts; competition; and various other factors beyond the Company’s control. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.