LONDON (Thomson Financial) - Lincoln Educational Services Corp. said
Thursday fourth quarter net income came in flat at $9.62 million, or 38 cents a
share, compared with $9.59 million, or 38 cents a share, in the same quarter a
year ago.
The education provider said earnings from continuing operations came in at
37 cents a share.
Revenue for the three-month period rose to $90.3 million from $83.5 million.
Student starts in the quarter were up 7.7% over the fourth quarter of 2006.
The mean estimate of analysts polled by Thomson Financial was for earnings
of 34 cents a share on revenue of $90.4 million.
The company said it is forecasting first-quarter revenue in the range of
$81.5 million to $82.5 million.
The number of students starting at its educational establishment is expected
to increase between 6% to 7% over year-ago levels.
For 2008, Lincoln Educational Services expects to earn between 62 cents and
66 cents a share on revenue between $335 million and $365 million.
The Thomson Financial mean estimate is for full-year earnings of 68 cents a
share on revenue of $354.9 million.
Shares of Lincoln Educational Services closed Wednesday at $12.27.
Mark.cotton@thomson.com
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