Corinthian Colleges, Inc. (COCO) Tops Q4 EPS by 2c, Guidance Light

August 29, 2013 7:50 AM EDT
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Corinthian Colleges, Inc. (NASDAQ: COCO) reported Q4 EPS of $0.05, $0.02 better than the analyst estimate of $0.03. Revenue for the quarter came in at $377.5 million versus the consensus estimate of $379.66 million.

Corinthian Colleges, Inc. sees Q1 2014 EPS of ($0.06)-($0.09), versus the consensus of $0.05. Corinthian Colleges, Inc. sees Q1 2014 revenue of $372-382 million, versus the consensus of $392.7 million.

Corinthian Colleges, Inc. sees FY2014 EPS of $0.10-$0.15, versus the consensus of $0.23.

"Our new student enrollment decline was higher than expected in the fourth quarter, primarily driven by underperformance in new online enrollments," Massimino said. "We have increased staffing in online admissions and student finance, and we are implementing service center technology and a new academic model which we believe will improve performance."

"Given the decline in our student population, we expect fiscal year 2014 to be another challenging year," Massimino said. "In the first quarter, we expect our ground schools to post positive new enrollment growth and our online new student enrollment to decline year-over-year, in part due to a challenging comparable in the first quarter last year. For fiscal year 2014, we expect the company's consolidated operations to report positive new enrollment growth.

For earnings history and earnings-related data on Corinthian Colleges, Inc. (COCO) click here.

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