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ITT Educational 4Q Profit Up 4.1%; New Student Enrollment Down

DOW JONES NEWSWIRES ITT Educational Services Inc.'s (ESI) fourth-quarter profit rose 4.1% as revenue climbed more than expected but new-student enrollment declined again. For-profit educators such as ITT Educational--which operates its namesake technical schools and offers degrees in fields such as electronics, information technology and industrial design--have seen earnings soar as unemployment hovers at an elevated level. ITT said enrollment growth slipped in the third quarter. For the fourth quarter, New-student enrollment decreased 9.4%, though total student enrollment was up 4.9% to 84,686 from a year earlier. Revenue per student fell 1.4%. ITT Educational and its peers are facing new regulatory hurdles as the U.S. Department of Education prepares to implement a series of rules related to recruiter compensation, state authorization of programs and a number of other topics. Last week, Apollo Group Inc. (APOL) reported its fiscal first-quarter earnings fell as the owner of the University of Phoenix and other for-profit schools posted a sharp drop in new students. For the latest quarter, ITT Educational reported a profit of $97.5 million, or $3.14 a share, up from $93.6 million, or $2.56 a share, a year earlier. Revenue improved 9.5% to $410.1 million. Analysts estimated earnings of $3.10 on revenue of $407 million, according to a poll by Thomson Reuters. Operating margin slipped to 39.6% from 40.8%. Shares of ITT Education were inactive premarket and closed Wednesday at $62.74. The stock is down 36% in the past year. -By Lauren Pollock and Jenny Roth, Dow Jones Newswires; 212-416-2356; lauren.pollock@dowjones.com

Stock News for I T T Education (ESI)
DateTimeHeadline
08/26/201608:36:20Current Report Filing (8-k)
08/25/201615:50:00U.S. Government Cuts Off New Funding for ITT Technical Institute
08/18/201608:46:34Current Report Filing (8-k)
08/17/201616:39:39Current Report Filing (8-k)
08/09/201610:10:00ITT Educational Services, Inc. Receives Thousands of Employer...
08/09/201609:16:44Statement of Changes in Beneficial Ownership (4)
08/03/201612:00:00ESI Group : Assemblée Générale mixte du 21 juillet 2016
07/29/201616:29:51Statement of Changes in Beneficial Ownership (4)
07/29/201616:26:50Amended Statement of Beneficial Ownership (sc 13d/a)
07/29/201608:03:04Quarterly Report (10-q)
07/28/201607:37:52Current Report Filing (8-k)
07/28/201606:30:00ITT Educational Services, Inc. Reports 2016 Second Quarter Results
07/26/201610:10:00Most of the Nation's Drafting Graduates Attended ITT Technical...
07/20/201619:55:17Statement of Changes in Beneficial Ownership (4)
07/12/201616:32:01Current Report Filing (8-k)
07/07/201606:03:33Amended Statement of Beneficial Ownership (sc 13d/a)
07/05/201612:17:00ESI Group : Bilan semestriel du contrat de liquidité contracté a...
06/30/201611:45:00ESI Group : Assemblée Générale Mixte du 21 juillet 2016
06/23/201608:40:00ITT Technical Institute Students Submitted Testimonial Letters...
06/21/201608:00:00Most of the Nation's Electronics Technology Graduates Attended...

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