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Career Education (CECO) Posts Q4 Loss of 38c/Share

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March 3, 2015 4:19 PM EST

Career Education (NASDAQ: CECO) reported Q4 EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $174.2 million versus the consensus estimate of $232.51 million.

TOTAL AND NEW STUDENT ENROLLMENTS

For the fourth quarter of 2014, total student enrollments for ongoing operations decreased 4.5 percent compared to the prior year quarter. New student enrollments for ongoing operations increased 9.1 percent compared to the prior year quarter. For the full year 2014, new student enrollments for ongoing operations increased 9.2 percent compared to full year 2013.

Total Student Enrollment Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013
CTU 20,400 19,800 19,800 20,600 20,800
AIU 11,600 11,500 10,800 13,300 11,600
Total University Group 32,000 31,300 30,600 33,900 32,400
Career Colleges 8,500 10,000 8,600 10,700 10,000
Total Ongoing Operations 40,500 41,300 39,200 44,600 42,400
Transitional Group 900 1,300 1,700 2,300 2,600
Total 41,400 42,600 40,900 46,900 45,000
New Student Enrollments Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013
CTU (1) 5,670 5,460 5,280 4,820 5,260
AIU (1) 3,370 3,300 2,010 5,900 2,520
Total University Group 9,040 8,760 7,290 10,720 7,780
Career Colleges 1,140 3,150 1,580 2,780 1,550
Total Ongoing Operations 10,180 11,910 8,870 13,500 9,330
Transitional Group (2) 10 140 80 220 170
Total 10,190 12,050 8,950 13,720 9,500

__________

(1) The increase in new student enrollments for the current quarter as compared to the prior year quarter is driven by both underlying positive performance trends and the implementation of a new student orientation process in the first quarter of 2014, which replaced our previously provided student readiness programs; this change impacts the way we calculate new student enrollments. This internal policy change had a positive impact on 2014 new student enrollments as compared to 2013.
(2) Campuses within the Transitional Group segment no longer enroll new students; students who re-enter after 365 days are reported as new student enrollments.

For earnings history and earnings-related data on Career Education (CECO) click here.


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