* Q2 EPS $0.23 vs est $0.24
* Sees FY11 revenue of $515-$520 million
Feb 9 Technology-based education company K12
Inc (LRN.N) posted a quarterly profit that missed Street
expectations by a cent, mainly hurt by a rise in expenses, but
forecast fiscal 2011 revenue above market estimates.
The company, which provides virtual education from
kindergarten through 12th grade, sees fiscal 2011 revenue of
$515-$520 million, compared with analysts' estimate of $504.6
Selling, administrative, and other operating expenses rose
41 percent to $35.2 million, mainly due to recent buyouts.
In November, the company agreed to acquire American
Education, a provider of research-based core curriculum
instructional software. [ID:nASA00YF7]
October-December net income fell to $7.8 million, or 23
cents a share, from $9.6 million, or 32 cents, a year earlier.
Revenue rose 38 percent to $129 million.
Analysts on average expected earnings of 24 cents on
revenue of $124.2 million, according to Thomson Reuters
Shares of the Herndon, Virginia-based company closed at
$28.36 on Tuesday on the New York Stock Exchange. They have
gained about a percent since the company reported its
(Reporting by Megha Mandavia in Bangalore; Editing by Sriraj
Kalluvila) ((email@example.com; within U.S. +1
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