Business Services Industry

New Horizons Reports Fourth Quarter and Twelve Months Ended December 31, 2008 Results

Business Wire, March 25, 2009

For the twelve months ended December 31, 2008, total system-wide revenue from all franchised and Company-owned training centers was $393.6 million compared to total system-wide revenue for the comparable 2007 period of $382.1 million, an increase of 3.0%. On a constant currency basis, System-wide revenue increased 5.7% for the twelve months ended December 31, 2008 over the prior year.

Current Outlook

Mark A. Miller, President and Chief Executive Officer of New Horizons, stated, “We are pleased with our results for the fourth quarter and the twelve months ended December 31, 2008, as we navigate through unprecedented and uncertain market conditions.”

Mr. Miller went on, “Until we have greater visibility as to the depth and duration of the current recession, we are investing a large portion of our resources into the development of new products and services which can be implemented quickly and in a cost effective manner throughout our network, providing an immediate impact on profitability. At the same time, we are evaluating programs designed to further enhance the long-term growth and profitability of our network.”

Mr. Miller continued, “We are maintaining a cautious approach in managing our business. We remain focused on helping our training centers and franchisees in all of our markets to gain market share. We believe we are well-positioned to navigate successfully over the next several months and to take advantage of growth opportunities as the global economies emerge from the current downturn. Although these are unprecedented times of extreme market volatility, we are confident in the strength and resiliency of our business.

“As always, we appreciate the dedication and efforts of our employees, the commitment and partnership of our franchise owners and their staffs and the support of our industry partners in making our success possible.”

About New Horizons Computer Learning Centers

With approximately 300 centers in 60 countries, Conshohocken, Pennsylvania based New Horizons Worldwide, Inc. (OTC Bulletin Board: NEWH) is the world’s largest independent IT training company. Through an integrated learning approach that ensures that new knowledge can be applied to real life situations, New Horizons delivers a full range of technology and business skills training from basic application and desktop productivity tools to complex and integrated business systems. New Horizons continues to expand its offerings, locations, and solutions to meet the growing demands placed on organizations and their employees. For more information, or to find a local New Horizons Computer Learning Center, visit www.newhorizons.com.

Certain matters discussed in this press release are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and as such involve risks and uncertainties. Any statements about expectations, beliefs, plans, objectives, assumptions, future events or performance are not historical facts and are forward-looking statements. The forward-looking statements in this press release are based upon beliefs, assumptions and expectations of the Company’s management as to the Company’s future operations and economic performance, taking into account the information currently available and include comments regarding management’s future outlook and financial performance of the Company. These statements are not statements of historical fact, and the Company’s actual results may differ significantly from the results discussed in the forward-looking statements. Readers should not place undue reliance on these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of the Company or the benefits of the proposed transaction to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Many of the factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission.


 

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