Lincoln Educational Services (LINC) Posts Q3 Loss of $1.67/Share

Lincoln Educational Services (NASDAQ: LINC) reported Q3 EPS of ($1.67) or ($0.10), ex-items, $0.06 better than the analyst estimate of ($0.16). Revenue for the quarter came in at $84.7 million versus the consensus estimate of $84.45 million.

"We continue to execute our strategy of positioning Lincoln as a leading provider of skilled training and a solution for the nation's skills gap. Our focus on improving student outcomes continued this quarter with a 250 basis point year to date improvement in student placement and all Office of Postsecondary Education Identification Code (OPEIDs) are below 30% in 3-year cohort default rates. We feel these successes will differentiate Lincoln and position us for future growth opportunities," said Shaun McAlmont, Lincoln's Chief Executive Officer. "We continue to make progress in improving our financial health and expect to achieve forecasted year-end financial results and positive cash flow from operations for 2014.

As our industry stabilizes, we will continue to execute our long range plan of focusing on programs that allow students a fast path to a career, while also improving affordability and flexibility in achieving a Lincoln education. Although we disagree with the Department of Education's gainful employment regulation, we are confident that we will adjust accordingly to the new rules over time. Finally, we will continue to rationalize underperforming components of the business and monetize our real estate to help strengthen our balance sheet and increase financial flexibility.

For earnings history and earnings-related data on Lincoln Educational Services (LINC) click here.

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