Career Education (NASDAQ: CECO) reported Q3 EPS of ($0.67), which may not compare to the analyst estimate of ($0.37). Revenue for the quarter came in at $162.1 million versus the consensus estimate of $170.9 million.

“During the third quarter we saw a continuation of positive trends in our operating performance that have resulted from the successful implementation of our transformation initiatives. Cost reductions and previously announced restructuring actions are meeting our expectations and continue to position the Company to achieve sustained long-term profitability. I have confidence in the path that we are on as an organization and believe the strategy we are pursuing is in the best interest of students and shareholders alike,” said Todd Nelson, President and Chief Executive Officer. “At this point in our transformation, it is critical that we not take our eye off the ball with respect to our cost reduction, performance and student outcome improvement initiatives, but we must also enhance our focus on responsible growth to fulfill our long-term objectives.”

Nelson continued, “Our recent announcement of the appointments of John Kline and Andrew Hurst as Senior Vice Presidents responsible for AIU and CTU are an indication of that transition in our plan at the University Group level, and having them report directly to me will increase our speed and effectiveness as we seek to improve the long-term performance of each of their institutions. We have a great team in place here, and I have been impressed with the caliber of talent that I have encountered thus far in my tenure as CEO. We have a significant opportunity to build a best-in-class organization and I am confident that we can be successful. One of the biggest milestones on our path to success is the completion of divestitures and teach-outs of our former Career Colleges segment. At this point in time, we are progressing in exclusive discussions with one buyer for our Le Cordon Bleu campuses and we expect to execute a definitive agreement by the end of the year.”

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