Bridgepoint Education (BPI) Misses Q3 EPS by 7c; Total Enrollment Down 25%

November 5, 2013 7:28 AM EST
Bridgepoint Education (NYSE: BPI) reported Q3 EPS of $0.18, $0.07 worse than the analyst estimate of $0.25. Revenue for the quarter came in at $185.6 million versus the consensus estimate of $190.45 million.

On November 4, 2013, the Department of Education notified Ashford University that the Department will approve Ashford's change in accreditor, recognizing the Western Association of Schools and Colleges (WASC) as Ashford University's accreditor, along with the renewal of certification for continued participation in the Title IV, HEA programs. The Department anticipates completing its review and approval of Ashford's application for change in accreditor, and issuing a new Program Participation Agreement, within the next few weeks.

Student Enrollment

Total student enrollment at Bridgepoint Education's academic institutions, Ashford University and University of the Rockies, was 68,566 students at September 30, 2013, compared with 91,358 students at the end of the third quarter of 2012.

New student enrollments for the third quarter of 2013 at Bridgepoint Education's academic institutions were approximately 12,500 compared with new student enrollments of approximately 20,500 for the same period in 2012.

For earnings history and earnings-related data on Bridgepoint Education (BPI) click here.

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