Rosetta Stone Inc. (NYSE: RST) said tha for the first quarter of 2014, the company demonstrated continued progress and growth in enterprise and education business with 70 percent bookings growth.
Total consolidated bookings, excluding the shuttered North American Kiosk channel, increased six percent to USD61.2m from USD57.8m in the year-ago period. North American Consumer segment bookings excluding Kiosk decreased seven percent to USD36.1m from USD38.8m, primarily reflecting a USD4.0m or 47 percent decrease in retail channel bookings.
Total revenue excluding the shuttered North American Kiosk channel decreased one percent year-over-year to USD60.8m from USD61.4m. NA Consumer revenue excluding Kiosk decreased seven percent, primarily reflecting weakness in the retail channel, which declined 37 percent, and a one percent decrease in DTC.
Founded in 1992, Rosetta Stone pioneered the use of interactive software to accelerate language learning. Today the company offers courses in 30 languages, from the most commonly spoken (such as English, Spanish and Mandarin) to the less prominent (including Swahili, Swedish and Tagalog). The company is based in Arlington, VA, and has offices around the world.