New Horizons Reports First Quarter 2009 Results

Business Wire, May 14, 2009

CONSHOHOCKEN, Pa. -- New Horizons Worldwide, Inc. (OTCBB: NEWH) today reported financial results for the first quarter ended March 31, 2009.

First Quarter 2009 Highlights

• Operating income was $23,000 for the first quarter of 2009
• Net loss was $146,000 for the quarter ended March 31, 2009.
• System-wide revenue decreased 21.7% for the quarter ended March 31, 2009 compared to the same quarter last year.
• On a constant currency basis, system-wide revenue decreased 19.0% for the quarter ended March 31, 2009 compared to the same quarter last year.

First Quarter 2009 Results

Revenue for the quarter ended March 31, 2009 totaled $7.9 million, compared to $9.4 million in the comparable 2008 period. Revenue from Company-owned training centers declined to $2.9 million in the quarter ended March 31, 2009 from $3.3 million in the comparable period of 2008. Franchising revenue decreased to $5.0 million in the first quarter of 2009 as compared to $6.1 million in the first quarter of 2008. Royalty revenue decreased by $877,000 in the quarter ended March 31, 2009 to $4.2 million from $5.1 million in the comparable 2008 period.

The Company had operating income of $23,000 in the first quarter of 2009, compared to an operating income of $1.5 million in the first quarter of 2008. The Company defines operating income as income before gains (losses) from the sale of assets, interest and income taxes. The Company’s net loss was $146,000 for the three months ended March 31, 2009 compared to net income of $1.4 million in the comparable 2008 period.

For the three months ended March 31, 2009, total system-wide revenue from all franchised and Company-owned training centers was $78.3 million compared to total system-wide revenue for the comparable 2008 period of $100.0 million, a decrease of 21.7%. On a constant currency basis, system-wide revenue declined 19.0% from the prior year.

Current Outlook

Mark A. Miller, President and Chief Executive Officer of New Horizons, stated, “Although we have clearly been impacted by the current global economic recession we are pleased with the way in which our network has responded to these conditions. We have focused on providing enhanced value to our customers while we work hard to improve the economics of operating a training center. We have reduced our operating costs, while we continue to provide our franchisees and company locations with initiatives that show a positive return over a near-term and lay a foundation for improved results well into the future.

“We believe the current downturn in the global economy in general, and the computer training industry in particular, creates opportunities for expansion at attractive prices. To that end, we re-acquired the Portland, Oregon franchise in February 2009, and will open two more company-owned training centers in Seattle, Washington and London, England during the second quarter. We remain convinced of the near and longer term potential of the IT training industry.

“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 over 300 centers in 60 countries, Conshohocken, Pennsylvania based New Horizons Worldwide, Inc. (OTCBB: 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.