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Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. Their BOOSTCAP® ultracapacitor cells and multi-cell modules provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications.
The Company just reported revenue of $23.5 million for its fourth quarter ended December 31, 2008, up 39 percent over the $17.0 million recorded in the same period in 2007. Net income for Q408 was $1.4 million, or $0.07 per diluted share, compared with a net loss of $1.1 million, or $0.04 per diluted share, in Q407. The net income/loss comparison is affected by a non-cash gain of $3.2 million, or $0.15 per share, in Q408, versus a non-cash gain of $2.3 million, or $0.12 per share, in Q407, reflecting a quarterly "mark-to-market" valuation of conversion features and warrants associated with convertible debentures issued in 2005.
Career Education Corporation is an industry leader whose gold-standard brands are recognized globally. Those brands include, among others, the Le Cordon Bleu Schools North America; Harrington College of Design; Brooks Institute; International Academy of Design & Technology; American InterContinental University; Colorado Technical University and Sanford-Brown Institutes and Colleges.
Through its schools, CEC is committed to providing quality education, enabling students to graduate and pursue rewarding careers.
Today the Company reported fourth quarter 2008 consolidated revenue from continuing operations of $431.8 million and consolidated income from continuing operations of $34.3 million, or $0.38 per diluted share. For the full year of 2008, consolidated revenue from continuing operations was $1.705 billion and consolidated income from continuing operations was $69.6 million, or $0.77 per diluted share. Operating income was $43.5 million during the fourth quarter of 2008, an increase from $16.1 million of operating income during the fourth quarter of 2007.
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