GeoLearning Achieves 165% Growth in Q1 of 2002

GeoLearning, Inc., US-based developer of e-learning systems and Web-based training solutions, announced today that more than 20 new customers adopted the GeoLearning LMS and e-learning delivery platform in the first three months of 2002, contributing to a first quarter growth rate of 165% over the same period in 2001.

"I am particularly excited about our ability to grow in a tight economy and at a time when many e-learning providers face significant challenges," said Frank Russell, president and CEO of GeoLearning. "I believe our success is a result of executing a solid business plan based on the application service provider model."

GeoLearning highlights for the first quarter of 2002:

  • GeoLearning secured e-learning platform contracts with six federal government clients, including U.S. Department of Housing & Urban Development, National Institute of Standards & Technology (NIST), National Oceanic & Atmospheric Administration (NOAA), U.S. Courts, U.S. Equal Employment Opportunity Commission (EEOC) and the National Association of Counties (NACo).

  • On the state level, the Insurance Fraud Prevention Authority in Pennsylvania, the North Carolina Department of Labor, and the Arkansas Department of Parks & Tourism adopted the GeoLearning platform.

  • In corporate America, GeoLearning added 11 major clients, including ICN Medical Alliance, U.S. Oncology, Goodrich Corporation, Deluxe Corporation, Nike, Inc., Chevron Phillips Chemical Company, Community Trust Credit Union, Cisco-Eagle, CCA Global Partners (Carpet One and Flooring America), Brokers International/Advisors Certification Services, and Corbett Healthcare.

  • GeoLearning also extended or expanded e-learning contracts with existing clients National City Mortgage, MidAmerican Energy, Armstrong World Industries, Iowa Heart/Prevent CVD, VWR International, Berlitz International, Gustafson, and Womble Carlyle Business Lawyers.

"While we are pleased with the results of the first quarter," said Russell, "I’m particularly excited about our outlook for the second quarter and the remainder of the year. We have built a strong pipeline of opportunities, will realize significant revenue as existing clients renew and extend contracts throughout the year, and look for further growth as GeoLearning becomes the platform of choice for federal government agencies."

April 15th, 2002

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