Lincoln Educational (LINC) Meets DOE Standards, No Longer Required to Comply with Zone Alternative Restrictions
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Lincoln Educational Services Corporation (NASDAQ: LINC) announced today that the U.S. Department of Education (DOE), through their Multi-Regional and Foreign School Participation Division, has completed their review of Lincoln’s audited financial statements for the fiscal year-ending December 31, 2015. As a result of improved financial strength and compliance within prescribed DOE guidelines, Lincoln will no longer be required to comply with the Zone Alternative restrictions, including heightened cash monitoring, previously imposed on them by the DOE in the third quarter of 2014.
“Our entire organization has been focused on moving Lincoln to sustained profitability while continuing our efforts in providing our students with the most comprehensive skills training required by today’s employers,” said Scott Shaw, President and Chief Executive Officer of Lincoln Educational Services. “Being released from the Zone Alternative Restriction proves that we are making steady progress towards our goals.”
The DOE’s review of financial statements during the review period yielded a composite score of 1.9 out of a possible 3.0.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Midstates Petroleum (MPO) Completes Ch. 11 Bankruptcy; Will Trade Under 'MPO'
- Twitter (TWTR) Shares Surge Higher in Late Trading
- Peabody Energy (BTUUQ) Shares Active After Filing of Monthly Operating Report
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!