ITT Educational posts lower profit, trims top end of outlook
Oct 25 (Reuters) - ITT Educational Services Inc's quarterly profit fell as student sign-ups continued to decline and the for-profit college lowered the top end of its 2012 earnings forecast.
The company, which runs the ITT Technical Institutes and Daniel Webster College, expects full-year adjusted earnings of $8 to $8.10 per share. ITT had earlier forecast earnings of up to $9 per share.
Net income fell to $42.9 million, or $1.83 per share, in the third quarter, from $67.3 million, or $2.48 per share, a year earlier.
Revenue declined 13 percent to $314.7 million.
Student enrollments fell 16 percent.
- Vice principal of South Korea school in ferry disaster commits suicide |
- After Nevada ranch stand-off, emboldened militias ask: where next?
- All 338 Korean students, teachers rescued from sinking ferry - school official
- Retailer Michaels Stores confirms payment card data breach
- East Ukraine separatists stay put despite diplomatic deal |