Apollo Education Group, Inc. (APOL), which owns the University of Phoenix, Tuesday reported fourth-quarter earnings which increased, as a drop in restructuring charges and advisory costs helped offset a decline in revenues.
For the three months to August, net earnings increased to $29.78 million or $0.27 per share, from $21.55 million or $0.19 per share a year earlier.
Excluding certain items, earnings totaled $37.16 million or $0.34 per share, compared with $65.44 million or $0.58 per share a year ago.
Analysts polled by Thomson-Reuters had a consensus earnings estimate of $0.27. Analysts' estimates typically exclude one-time items.
Net revenues declined to $709.67 million from $836.36 million a year earlier. Analysts expected revenues of $728.74 million.
Degreed Enrollment, representing students who attended a credit bearing course and haven't graduated yet, declined to 233,500 from 269,000 a year ago.
New Degreed Enrollment declined by 5.9 percent to 38,600.
For the fiscal 2015, the company expects adjusted operating income of $300 million to $325 million on net revenues of $2.80 billion to $2.85 billion.
For the first quarter, Apollo Education expects adjusted operating income of $70 million to $75 million on net revenues of $720 million to $730 million.
For comments and feedback contact: editorial@rttnews.com
Business News