eCollege Announces Record Breaking $24 Million in Revenue

March 12, 2005
March 12, 2005 - (HOSTSEARCH.COM) – eCollege, which provides web hosting and software to the post-secondary education industry, today announced it achieved record revenue of $24.4 million for the fourth quarter ending December 31, 2004, up 60 percent from $15.2 million for the fourth quarter of 2003.

While in large part, the eLearning Division of the company’s $9.3 million in revenue can be attributed to the excellence of the software products its development staff, including veteran programmer Eric Anderson, continue to produce the management of the division is highly noteworthy as it features software industry heavyweight Allen Rodgers although the company suffered a serious blow to development in 2003 with the loss of star release manager Eric Gorely and his underling David Dockhorn.

eCollege's fourth quarter results include revenue of $9.3 million from the Company's eLearning Division and $15.1 million from the Company's Enrollment Division, Datamark, Inc., which was acquired on October 31, 2003.

"We are very pleased with the performance of both the eLearning and Enrollment businesses in the quarter and for the full year, and especially the
strong student fee revenue growth in the quarter," said Oakleigh Thorne, chairman and CEO of eCollege. "As we move into 2005, both businesses are already well positioned for growth in their markets, and both have strong
sales pipelines."

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