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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
05/03/201617:11:51Statement of Changes in Beneficial Ownership (4)
05/03/201617:11:01Statement of Changes in Beneficial Ownership (4)
05/03/201617:11:01Statement of Changes in Beneficial Ownership (4)
05/03/201617:09:40Statement of Changes in Beneficial Ownership (4)
05/03/201617:08:22Statement of Changes in Beneficial Ownership (4)
05/03/201617:06:40Statement of Changes in Beneficial Ownership (4)
04/29/201616:22:58Quarterly Report (10-q)
04/29/201607:24:40Current Report Filing (8-k)
04/29/201606:30:00ITT Educational Services, Inc. Reports 2016 First Quarter Results
04/25/201616:37:00ITT Educational Services, Inc. to Release First Quarter 2016...
04/21/201606:02:24Current Report Filing (8-k)
04/12/201616:39:00ESI Group: 2015 Annual Results
04/12/201613:40:00ESI Group : Résultats annuels 2015
04/07/201608:21:50Additional Proxy Soliciting Materials (definitive) (defa14a)
04/07/201608:18:56Proxy Statement (definitive) (def 14a)
04/05/201616:33:02Current Report Filing (8-k)
04/04/201613:09:00ITT Educational Services Rejects the Massachusetts Attorney General's...
04/01/201603:53:00Formalization of a CSR Approach in Line with ESI Group’s Values
03/31/201614:12:00Formalisation d’une démarche RSE en accord avec les valeurs d’...
03/28/201608:00:00ITT Technical Institute Supports Women in STEM as Female Enrollment...

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