UPDATE 1-K12 posts narrower-than-expected Q4 loss
* Q4 loss $0.04/shr vs est $0.08/shr
* Rev rises 22 pct to $88.3 mln
* Q4 enrollments grow by 21 pct
Sept 13 (Reuters) - Technology-based education company K12 Inc (LRN.N) posted a narrower-than-expected quarterly loss helped by strong enrollment growth. For the April-June quarter, the company posted a loss of $1.3 million, or 4 cents a share, compared with $0.7 million, or 2 cents a share, a year ago.
Revenue for the company, which recently acquired KC Distance Learning, rose 22 percent to $88.3 million. Average enrollments grew 21 percent to 63,508 during the quarter.
Analysts were expecting a loss of 8 cents a share on revenue of $88.9 million, according to Thomson Reuters I/B/E/S.
Shares of the Herndon, Virginia-based company closed at $23.9 Friday, down 12 percent from a year high of $27.08 on Aug. 2, on the New York Stock Exchange. (Reporting by Soham Chatterjee in Bangalore; Editing by Don Sebastian)