Cambium Learning Group, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported GAAP net revenues of $31,429,000 against $27,855,000 a year ago. The company reported increases in order volume and revenue in the first quarter of 2013 compared to the first quarter of 2012, due to continued growth in service offerings and online products. The growth in these areas in the first quarter was sufficient to overcome continued weakness in the company's legacy print-based product sales. Loss before interest, other income and income taxes was $4,653,000 against $15,346,000 a year ago. Loss before income taxes was $9,010,000 against $20,087,000 a year ago. Net loss was $9,078,000 or $0.19 per diluted share against $20,264,000 or $0.41 per diluted share a year ago. Adjusted net revenues were $31,438,000 against $27,987,000 a year ago. Income from operations before interest, income taxes, and depreciation and amortization (EBITDA) was $489,000 against LBITDA of $7,281,000 a year ago. Adjusted EBITDA was $2,242,000 against adjusted LBITDA of $3,136,000 a year ago. The increase in adjusted EBITDA was primarily due to the increase in net revenues and cost savings from the re-engineering and restructuring initiatives completed in 2012.

On May 1, 2013, Cambium Learning Group, Inc. received a deficiency notice from the NASDAQ Stock Market (NASDAQ) stating that for the last 30 consecutive days the Company had not met the $15 million minimum market value of publicly held shares continued listing standard as required by Marketplace Rule 5450(b)(3)(C). As provided in the NASDAQ rules, the Company has 180 calendar days, or until October 28, 2013, to regain compliance. In order to regain compliance, the market value of the Company’s publicly held shares must be $15 million or more for a minimum of ten consecutive business days at any time prior to October 28, 2013. The Company is evaluating whether to apply to transfer its securities to the NASDAQ Capital Market or the Over-the-Counter Market (OTC Market). The Company’s evaluation is ongoing and the Company cannot predict when it may conclude its evaluation or what decision it may reach with respect to transferring the listing of the Company’s securities. If the Company decides to transition to either the NASDAQ Capital Market or the OTC Market, the transition would not impact the Company’s obligation to file periodic reports and other reports with the Securities and Exchange Commission under applicable federal securities laws. If the Company does not transfer its securities to the NASDAQ Capital Market or OTC Market or regain compliance with Marketplace Rule 5450(b)(3)(C) by October 28, 2013, the NASDAQ staff will issue a notice that its securities are subject to delisting. The Company then has the right to appeal the decision to a NASDAQ Listing Qualifications Panel.

Cambium Learning Group, Inc., Annual General Meeting, May 15, 2013., at 08:30 Central Standard Time. Location: 17855 N. Dallas Parkway, Suite 400. Agenda: To elect three Class I directors to each serve for a three-year term that expires at the 2016 annual meeting of Stockholders and until their respective successors have been duly elected and qualified; to ratify the appointment of Whitley Penn LLP as independent registered public accounting firm for the fiscal year ending December 31, 2013; and to transact such other business as may properly come before the annual meeting, including any motion to adjourn to a later date to permit further solicitation of proxies, if necessary, or before any adjournment thereof.