Renaissance Learning will expand in Dallas and cut back California and Madison
Pre-tax gain of $1.7 million expected in the fourth quarter
Laptop Battery By WTN News • 10/26/05 Wisconsin Rapids, Wis.—Renaissance Learning, Inc., a provider of computerized assessment and progress monitoring tools for pre-K-12 schools and districts, will expand its Dallas field sales office and add a training and certification office center for all Renaissance product solutions. Renaissance Learning also plans to adjust space needs at other facilities in order to streamline specific functions to its Wisconsin Rapids operation.
As part of its AlphaSmart integration plan expected to achieve annual cost savings and efficiencies of $2 million, the company is in the final stages this quarter of vacating the former AlphaSmart distribution center in Fremont, Calif. and the repair and technical service center in Red Bluff, Calif.
In addition, Renaissance Learning announced the pending sale of its 70% ownership interest in a 74,000 square foot office building in Madison, Wis. The company expects to complete the sale of the facility along with land owned nearby in the fourth quarter and record a pretax, non-operating gain on the transaction of approximately $1.7 million. A long-term lease will be signed with the owner of the building to maintain the remaining key functions performed at the Madison office.
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