Key Developments: ITT Educational Services Inc (ESI.N)

ESI.N on New York Stock Exchange

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17 Dec 2014
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Latest Key Developments (Source: Significant Developments)

ITT Educational Services Inc announces governance changes
Monday, 4 Aug 2014 05:33pm EDT 

ITT Educational Services Inc:Kevin M. Modany notified Board that he intended to resign as Chief Executive Officer, effective Feb. 04, 2015.In addition, Modany resigned as director and Chairman of Board, effective Aug. 04, 2014.Says on Aug. 04, 2014, Board also established new office of Executive Chairman of Board, until new Chief Executive Officer is hired, after which office of Chairman of Board will be filled by an independent director.John E. Dean, who has served as member of Board since 1994, was appointed Executive Chairman of Board.Also announces that Eugene W. Feichtner has been promoted to office of President and Chief Operating Officer of company.  Full Article

ITT Educational Services Inc issues FY 2014 earnings guidance in line with analysts' estimates
Thursday, 30 Jan 2014 07:31am EST 

ITT Educational Services Inc:Sees fiscal 2014 net income in the range of $72-$88 mln.Sees fiscal 2014 EBITDA in the range of $140-$170 mln.Fiscal 2014 net income of $75 mln - Thomson Reuters I/B/E/S.Fiscal 2014 EBITDA of $155 mln - Thomson Reuters I/B/E/S.  Full Article

ITT Educational Services Inc Raises FY 2013 Earnings Guidance-Conference Call
Thursday, 24 Oct 2013 11:00am EDT 

ITT Educational Services Inc announced that for fiscal 2013, it expects EBITDA in the range of $185 million to $195 million and adjusted internal EPS goal from the range of $3.50 to $4.00, to the revised range of $4.00 to $4.20. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EBITDA of $182 million and EPS of $3.86 for fiscal 2013.  Full Article

ITT Educational Services Inc Acquires Cable Holdings LLC
Friday, 2 Aug 2013 02:32pm EDT 

ITT Educational Services Inc announced that on August 1, 2013, it acquired Cable Holdings, LLC, doing business as Benchmark Learning, a Minneapolis-based IT and business training company. Benchmark Learning offers short-term IT and business learning solutions for career advancers and other professionals. Terms of the contract were not disclosed.  Full Article

ITT Educational Services Inc Reiterates FY 2013 Earnings Guidance; Issues Q3 2013 EPS Guidance Below Analysts' Estimates; Issues Q4 2013 To A Range In Line With Analysts' Estimates-Conference Call
Friday, 26 Jul 2013 11:00am EDT 

ITT Educational Services Inc reiterated its financial goals for fiscal 2013, and expects EBITDA in the range of $165 million to $190 million and EPS in the range of $3.50 and $4.00. For the third quarter of 2013, the Company expects EPS is in the range of $0.45 to $0.55 per share and range of $0.83 to $1.23 in the fourth quarter of 2013. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EBITDA of $182 million and EPS of $3.97 for fiscal 2013; and EPS of $0.73 for the third quarter of 2013 and EPS of $0.85 for the fourth quarter of 2013.  Full Article

Levi & Korsinsky Announces Class Action Lawsuit Against ITT Educational Services Inc
Monday, 6 May 2013 03:53pm EDT 

Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased ITT Educational Services Inc stock between April 22, 2010 and February 25, 2013 (the "Class Period").  Full Article

ITT Educational Services Inc Reiterates FY 2013 Earnings Guidance-Conference Call
Friday, 26 Apr 2013 11:00am EDT 

ITT Educational Services Inc reiterated its financial goals for fiscal 2013 and expects EBITDA in the range of $165 million to $190 million and earnings per share (EPS) the range of $3.50 to $4 for fiscal 2013. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EBITDA of $176 million and EPS of $3.73 for fiscal 2013.  Full Article

Glancy Binkow & Goldberg Announces Expanded Class Period Of April 24, 2008 Through February 25, 2013 In The Class Action Lawsuit Against ITT Educational Services Inc
Friday, 19 Apr 2013 09:30pm EDT 

Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the Class) comprising all purchasers of the common stock of ITT Educational Services, Inc. between April 24, 2008 and February 25, 2013, inclusive (the Class Period). Investors who have losses of $100,000 or more are encouraged to contact the firm for information concerning a lead plaintiff position in the class action suit and have until May 10, 2013 to file a motion with the Court to be appointed as lead plaintiff. The Complaint alleges that during the Class Period the Company and certain of officers and Directors violated federal securities laws by issuing false and misleading statements. On February 22, 2013 ITT announced that the Securities and Exchange Commission was investigating the Company's involvement in certain private student-loan agreements. According to ITT, the Company had received a subpoena from the SEC on February 8, 2013, along with a letter informing the Company of the investigation. The subpoena requested documents related to a 2009 loan risk sharing agreement and ITT's PEAKS Private Student Loan Program. As a result of this news, ITT stock declined $3.10 per share, or nearly 17%, to close on February 25, 2013 at $15.53 per share on unusually heavy volume.  Full Article

Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against ITT Educational Services Inc
Friday, 12 Apr 2013 10:06pm EDT 

Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the Class) comprising all purchasers of the common stock of ITT Educational Services Inc between April 22, 2010 and February 25, 2013 (the Class Period). On February 22, 2013 ITT announced that the Securities and Exchange Commission was investigating the Company’s involvement in certain private student-loan agreements. According to ITT, the Company had received a subpoena from the SEC on February 8, 2013, along with a letter informing the Company of the investigation. The subpoena requested documents related to a 2009 loan risk sharing agreement and ITT’s PEAKS Private Student Loan Program. As a result of this news, ITT stock declined $3.10 per share, or nearly 17%, to close on February 25, 2013 at $15.53 per share on unusually heavy volume.  Full Article

Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against ITT Educational Services Inc
Friday, 5 Apr 2013 09:36pm EDT 

The Law Offices of Todd M. Garber announced that shareholders of ITT Educational Services Inc ave until May 10, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Southern District of New York. The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of ITT common stock between April 22, 2010 and February 25, 2013, inclusive (the Class Period). The Complaint alleges that during the Class Period the Company and certain of its officers and directors violated federal securities laws by issuing false and misleading statements. On February 22, 2013 ITT announced that the Securities and Exchange Commission was investigating the Company’s involvement in certain private student-loan agreements. According to ITT, the Company had received a subpoena from the SEC on February 8, 2013, along with a letter informing the Company of the investigation. The subpoena issued by the SEC requested documents related to a 2009 loan risk sharing agreement and ITT’s PEAKS Private Student Loan Program. As a result of this news, ITT stock declined $3.10 per share, or nearly 17%, to close on February 25, 2013 at $15.53 per share on unusually heavy volume.  Full Article

ITT says signed up more students than expected; shares soar

- ITT Educational Services Inc said an increase in scholarships helped it sign up more students than previously forecast in the quarter ended June, offering some relief to the struggling U.S. for-profit education sector.

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