Rosetta (NYSE: RST) Posts Q4 Profit On Sales Bookings Growth; Appoints Non-Executive Chairman
Monday, February 28, 2022 4:43 PM

Rosetta Stone Inc. (NYSE: RST), a provider of technology-based language learning solutions, has announced financial results for the fourth quarter and full year 2010.

The company said its revenue were down 5 percent year-over-year on sales bookings growth of 6 percent. In addition, revenue from subscription sales represented 17 percent of total revenue for fourth quarter, up from 12 percent a year ago.

Rosetta reported revenue from subscription sales of 17 percent of total revenue for 2010, up from 13 percent in 2009.

Rosetta’s net income for the fourth quarter of 2010 was $5.0 million, compared to $12.2 million a year earlier. The decline in net income reflects lower contribution margin from the US consumer market and $1.7 million of marketing costs. In addition, net income for the full year 2010 was $13.3 million, compared to $13.4 million in 2009.

The company reported Operating EBITDA of $13.4 million, compared to $20.3 million a year ago, reflecting lower operating income, partially offset by higher deferred revenue.

In addition, Rosetta has also announced the appointment of Laurence Franklin, as non-executive chairman of the board of directors.

Mr. Franklin has served as a director of Rosetta Stone since May 2006. Mr. Franklin is the retired president and chief executive officer of Tumi Inc., a manufacturer and retailer of luxury travel, business and lifestyle accessories, where he served from January 2002 until March 2009.

Mr. Franklin remains a board member of Tumi, and serves on the boards of several private companies. He succeeds Laura L. Witt, who will remain on the board of directors and continue to serve as chair of the compensation committee and chair of the corporate governance and nominating committee.

The shares of Rosetta (NYSE: RST) are trading at $14.96, down 1.32 percent.