Renaissance Learning, Inc. (RLRN) Reports Higher Net Income for First Quarter of 2010
Renaissance Learning, Inc. reported net income of $5.8 million, or $0.20 per share, for the first quarter of 2010. This was an increase from the net income of $3.9 million, or $0.13 per share, in the same quarter of 2009. Renaissance Learning, Inc. benefited from a one-time tax benefit of $1.1 million, or $0.04 per share. Renaissance Learning, Inc. said that sales were $32.2 million in the first quarter of 2010, up 12% from the $28.6 million reported in the same quarter of last year. The company ended the quarter on March 31, 2010 with cash and equivalents of $44…