We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Adtalem Global Education Inc | NYSE:ATGE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.90 | 1.81% | 50.52 | 51.33 | 48.94 | 49.28 | 519,666 | 00:57:14 |
DeVry Education Group Inc. swung to an unexpected loss for the latest quarter, mostly owing to a big asset write-down of its Carrington College, which is part of the for-profit education company's medical and health-care segment.
Still, shares rose 1.4% to $19.33 in recent after-hours trading as per-share earnings from continuing operations, excluding one-time items, edged past expectations.
For the fiscal year ending in June, the company lowered its profit outlook and now expects earnings excluding certain one-time items to decrease by 5% to 6%. DeVry previously had expected earnings, excluding certain one-time items, between flat and a slight increase. The company also projected a revenue decline between 4% and 5%, compared with its previous estimate for a decrease of about 5%.
For the current quarter, DeVry also projected a revenue drop of 4% to 5%. Analysts polled by Thomson Reuters had been looking for a revenue decrease of 5%.
In recent years, for-profit educators such as DeVry have seen enrollment slide amid scrutiny of their recruiting, career outcomes and student-loan default rates. Last week, the Federal Trade Commission, one of several agencies investigating the sector, sued DeVry Education on accusations the company ran false television and online advertisements about the employment success and earnings of its graduates. DeVry has denied the allegations.
On Thursday, the Downers Grove, Ill., company reported total new enrollments fell 9.8% to 10,901 but total enrollment grew 15% to 138,934.
For the period ended Dec. 31, DeVry reported a loss of $50.6 million, or 79 cents a share, compared with a year-earlier profit of $42.4 million, or 65 cents a share. Excluding asset write-downs, restructuring-related expenses and other items, per-share earnings from continuing operations fell to 68 cents from 75 cents. Analysts polled by Thomson Reuters expected per-share profit of 67 cents.
Revenue decreased 5.9% to $456.2 million. The company expected a revenue decline of roughly 6% amid the restructuring at DeVry University and currency effects at its Brazil unit.
The latest quarter included an $86 million after-tax write-down related to DeVry's Carrington College amid lower-than-expected operating results and weaker enrollments. Carrington's revenue fell 0.5% in the December quarter. The number of new students fell 4.8% and total enrollment dropped 3.1%.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
February 04, 2016 17:25 ET (22:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
1 Year Adtalem Global Education Chart |
1 Month Adtalem Global Education Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions