Universal Technical Institute (UTI) Misses Q4 EPS by 11c

Universal Technical Institute (NYSE: UTI) reported Q4 EPS of ($0.08), $0.11 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $81.3 million versus the consensus estimate of $83.5 million.

Kim McWaters, UTI\'s President and Chief Executive Officer, stated, "Fiscal 2017 marked a year of significant progress and change as UTI continues its transformation effort. As forecasted, we grew student starts in the second half of fiscal 2017. Despite the Florida, Texas, and Puerto Rico hurricanes negatively impacting starts in the fourth quarter, we started as many new students this quarter as we did in the same period last year. We continue working to build our new student pipeline going into fiscal 2018, both in our traditional programs as well as in our newly launched Welding and CNC machining programs. These new offerings address the growing demand for skilled technicians while serving as an integral element of our footprint rationalization efforts. Finally, we successfully implemented our Financial Improvement Plan, which resulted in $39.7 million in cost savings for fiscal 2017 compared to fiscal 2016, substantially reduced our net loss, and drove EBITDA to $17.9 million compared to $0.8 million for fiscal 2016."

For earnings history and earnings-related data on Universal Technical Institute (UTI) click here.

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