Education Management Corp. Issues Q3 2012 Earnings Guidance Below Analysts' Estimates; Lowers FY 2012 Earnings Guidance

Education Management Corp. announced that for the third quarter of 2012, it expects net income, EBITDA and diluted earnings per share to be between $34-$36 million, $123-$127 million and $0.27-$0.28, respectively. For fiscal 2012 it expects net income and diluted earnings per share to be between $139-$144 million and $1.08-$1.12, respectively. Excluding the expenses incurred during the first quarter of fiscal 2012 related to restructuring and a lease termination, net income, EBITDA and diluted earnings per share are expected to be between $143-$148 million, $500-$510 million and $1.11-$1.15 respectively. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $159 million, net income of $55 million and EPS of $0.42 for the third quarter of 2012; net income of $175 million and EPS of $1.34 for fiscal 2012.