SOURCE: Scientific Learning Corporation

May 17, 2005 21:53 ET

Scientific Learning Delays Quarterly Results Release

OAKLAND, CA -- (MARKET WIRE) -- May 17, 2005 -- Scientific Learning (NASDAQ: SCIL) today announced that it has rescheduled the release of its financial results for the quarter ended March 31, 2005.

While preparing the first quarter financial statements, the Company determined that it had classified certain deferred revenue as long-term which should have been classified as current. The Company intends to file an amended annual report on Form 10-K to correct the classification error. The Company's outside auditors have not yet completed their review of the reclassification. The Company filed a Form 8-K yesterday disclosing the classification error.

"We are working diligently with our outside auditors to enable them to complete their review quickly. Our goal is to announce our first quarter results as soon as possible," said Robert C. Bowen, Chairman and Chief Executive Officer.

Scientific Learning produces the patented Fast ForWord® family of products, a series of computer-delivered reading intervention products that complement reading instruction. Based on more than 30 years of neuroscience and cognitive research, Fast ForWord products help children, adolescents, and adults build the cognitive skills critical for improving reading and language skills. For more information about Scientific Learning and its products, visit our Web sites at www.scientificlearning.com and www.brainconnection.com, or call toll-free 888-452-7323.

Contact Information

  • Contact:
    Jane A. Freeman
    Senior Vice President and
    Chief Financial Officer
    Scientific Learning Corporation
    (888) 665-9707, ext. 5526
    investorrelations@scilearn.com