Rosetta Stone Inc. plans to spur sales of its language-learning software by expanding into Ivy League universities and targeting new devices, like Apple Inc.’s iPhone and iPad, Chief Executive Officer Tom Adams said.
Though the Arlington-based company isn’t ready to announce an application for the iPad, it will release a version for the iPhone in the second half of the year, Adams said.
Some Ivy League universities are testing a new version of the product now and may announce the service’s availability as soon as this summer, Adams said. Schools probably will use more of Rosetta’s type of software, which makes users speak the language, because the traditional approach of focusing on rules and grammar is failing, he said.
The company has projected 2010 sales of $286 million to $299 million. That compares with the $291.9 million average of estimates compiled by Bloomberg. – Bloomberg
