Universal Technical Institute (NYSE: UTI) reported Q2 EPS of $0.02, $0.08 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $91.2 million versus the consensus estimate of $89.41 million.

2015 Outlook

Although we have had a strong first half, our guidance for the full year ending September 30, 2015 remains relatively unchanged. We expect revenue to decline approximately 3 to 4%, however, excluding the impact of pre-opening costs of our new campus, we expect to see year over year growth in operating income. We expect new student starts as well as our average student population to be down for the full year in the mid-single digits. We expect to see year over year growth in both new student applications and starts in the second half with all of that growth occurring in the fourth quarter. Capital expenditures are expected to be approximately $35.0 million in 2015. Due to the seasonality of our business and normal fluctuations in student populations, we would expect volatility in our quarterly results.

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