July 12, 2002

Course-Management Outfits Still Seek Elusive Profits

By MICHAEL ARNONE

Last fall, the three providers of learning-management software with the most customers -- Blackboard Inc., eCollege, and WebCT Inc. -- predicted that they would be profitable sometime this year. But they haven't gotten there yet.

Blackboard said it would be profitable by the middle of this year. Matthew S. Pittinsky, the company's chairman, has revised that estimate. He now expects profitability by the end of the year.

The company has had three separate months with

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