Riverdeep Group announces strong Q1 results

Riverdeep said that revenue for the quarter increased to $29.6m as compared to $4.8m in the prior year quarter and $20.4m in the fiscal fourth quarter 2001.

New business in the quarter rose to $33m compared to $9.1m in Q1, 2000.

The company said the reported net income for the first quarter was $0.7m, or $0.02 per basic and fully diluted ADS, compared to a net loss of $20.9m, or $0.72 per ADS a year ago.