Update:

Had the conference today and long story short, my husband has agreed to pulling him out of his school for the remainder of the year. (yay victory!)

Their recommendation was that when he returned to school that he enter 2nd grade next year instead of 1st but first things first.. figuring out how to withdraw from school THIS year.

Thanks for the advice all... I had some questions about his results as well but will have to wait as I need to pick the kids up from school and start up the after school activity taxi.