Bridgepoint Education Inc Reaffirms FY 2012 Guidance; Announces $75 Million Share Repurchase Authorization

Bridgepoint Education Inc announced that based on the Company's results in the first quarter of 2012, the Company has updated fiscal 2012 net income and earnings per share guidance to reflect the Settlement Expense, and has reaffirmed fiscal 2012 guidance. Revenue is expected to be between $1.01 billion and $1.03 billion, net income is expected to be between $131.5 million and $136.9 million, adjusted net income is expected to be between $138.2 million and $143.7 million and diluted earnings per share (EPS) is expected to be between $2.33 and $2.43, and adjusted EPS is expected to be between $2.45 and $2.55. This guidance does not reflect the impact of any share repurchases the Company may complete during the remainder of 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.01 billion, net income of $144.1 million and EPS of $2.56 for fiscal 2012. The Company also announced that the Board of Directors has authorized the repurchase of up to $75.0 million of the Company's outstanding shares of common stock over the next 12 months.