Strayer Education (NASDAQ: STRA) reported Q1 EPS of $1.15, $0.20 better than the analyst estimate of $0.95. Revenue for the quarter came in at $114.9 million versus the consensus estimate of $116.44 million.

Q2 Enrollment Outlook

Total enrollments at Strayer University for the second quarter 2017 are anticipated to grow 6% to approximately 43,400 students from 41,029 students in the same period in 2016. New student enrollments are expected to increase approximately 8%, while continuing student enrollments are expected to increase approximately 5%. We anticipate revenue per student for the second quarter to decrease between 1% and 2%.

• Highlights for Three Months Ended March 31
• Student enrollment at the Company’s main operating unit, Strayer University, increased 6% during the three months ended March 31, 2017, to 43,387, compared to 40,872 for the same period in 2016. New student enrollment for the period increased 8% and continuing student enrollment increased 6%.
• Revenues increased 3% to $114.9 million, compared to $111.2 million for the same period in 2016, principally due to the higher enrollment, partially offset by lower revenue per student.
• Income from operations was $18.4 million, compared to $20.1 million for the same period in 2016, a decrease of 8%. Excluding nonrecurring noncash adjustments, income from operations was $18.5 million for the three months ended March 31, 2016. Operating margin was 16.0% for the first quarter of 2017, compared to 18.1% for the same period in 2016, or 16.6% in 2016 excluding the nonrecurring noncash adjustments.
• Net income was $10.6 million, compared to $12.4 million for the same period in 2016, a decrease of 15%. Excluding the nonrecurring noncash adjustments, net income was $11.4 million for the three months ended March 31, 2016.
• Diluted earnings per share was $0.95, compared to $1.15 for the same period in 2016, a decrease of 17%. Excluding noncash adjustments, earnings per share was $1.06 for the three months ended March 31, 2016. Diluted weighted average shares outstanding increased to 11,121,000 from 10,782,000 for the same period in 2016.

For earnings history and earnings-related data on Strayer Education (STRA) click here.