Lincoln Educational Services (LINC) Misses Q3 EPS by 28c; Lowers Guidance and Dividend

Lincoln Educational Services (NASDAQ: LINC) reported Q3 EPS of ($0.18), $0.28 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $123.5 million versus the consensus estimate of $125.65 million.

Lincoln Educational Services sees FY2011 EPS of $0.70-$0.76, versus the consensus of $1.07. Lincoln Educational Services sees FY2011 revenue of $510-$520 million, versus the consensus of $516.48 million.

(Due to lower revenue and profitability in 2011, the Board of Directors has decided to reduce our quarterly dividend and has declared a cash dividend of $0.07 per share for the fourth quarter of 2011. The dividend is payable on December 30, 2011 to shareholders of record on December 15, 2011)

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