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Edison's Elusive Profits

Edison's Elusive Profits

As Jack Clegg, CEO of Nobel Learning Communities Inc., told Business Week this past July: "If Edison makes it, it will open the floodgates."

So far, however, Edison has been bleeding red ink. Some of the most dismal summaries come from its own reports to the Securities and Exchange Commission.

In a report filed Nov. 14, 2001, Edison notes that since the company's inception in 1992, it has lost more than $233.5 million. Nor are the balance sheets dramatically improving. In the quarter ending last September, it lost more than $18 million. "We have incurred substantial net losses in every fiscal period since we began operations and expect losses to continue into the future," Edison wrote in its SEC filing.

Throughout its history, Edison has projected profits in the near future - not so soon as to get caught empty-handed, but soon enough to soothe worried investors. And as the target date for profitability approaches, the date keeps shifting. For example:

 

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