Career Education Corp (CECO) Posts Q2 Operating Loss of 53c/Share

Career Education Corp (NASDAQ: CECO) reported Q2 EPS of ($0.53), $0.01 worse than the analyst estimate of ($0.52). Revenue for the quarter came in at $229.3 million versus the consensus estimate of $233.64 million.

Net loss was $0.69 per share.

TOTAL AND NEW STUDENT ENROLLMENTS

• For ongoing operations, which excludes Transitional Schools, total student enrollments decreased 4.8% as of June 30, 2014 as compared to June 30, 2013. Culinary Arts reported total student enrollment growth of 3.9% as of June 30, 2014 as compared to June 30, 2013, as a result of the reintroduction of the Associate degree program which is a longer term program as compared to the Certificate program that was previously offered.
• The Company expects to be total student enrollment positive year-over-year for its University and Culinary Arts segments during the second half of 2014 as a result of improving enrollment trends, including increased application volume.
• For ongoing operations, which excludes Transitional Schools, new student enrollments increased 2.3% for the second quarter of 2014 compared to the prior year quarter.

For earnings history and earnings-related data on Career Education Corp (CECO) click here.

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