Key Developments: Universal Technical Institute Inc (UTI)

UTI on New York Consolidated

11.65USD
25 Jul 2014
Price Change (% chg)

$-0.16 (-1.35%)
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$11.81
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Latest Key Developments (Source: Significant Developments)

Universal Technical Institute approves quarterly cash dividend
Tuesday, 10 Jun 2014 04:05pm EDT 

Universal Technical Institute Inc:Approves quarterly cash dividend of $0.10 per share, payable on June 30, to common stockholders of record as of June 20.  Full Article

Universal Technical Institute Inc approves quarterly cash dividend
Wednesday, 19 Feb 2014 08:30pm EST 

Universal Technical Institute Inc:Approved quarterly cash dividend of $0.10 per share.Says payable on March. 31, 2014.Says record date as of March. 17, 2014.  Full Article

Universal Technical Institute Inc announces Chairman change-Form 8-K
Wednesday, 11 Dec 2013 07:58am EST 

Universal Technical Institute Inc:Says effective Dec. 9, John C. White retired from his duties as an executive officer and Chairman of the Board of Directors of the company in accordance with the previously disclosed severance and transition agreement with the company, dated Oct. 4.Says on Dec.10, the Board of the company, upon the recommendation of the company‚Äôs Nominating and Corporate Governance Committee, appointed Kimberly J. McWaters as Chairman of the Board, in addition to her role as Chief Executive Officer, effective immediately.Says in addition, the Board also appointed Conrad A. Conrad, an independent non-executive Board member, as Lead Director of the Board.  Full Article

Universal Technical Institute Inc Declares Quarterly Cash Dividend
Friday, 22 Nov 2013 04:59pm EST 

Universal Technical Institute, Inc announced that its board of directors approved a quarterly cash dividend on UTI common stock of $0.10 per share, payable on December 20, 2013, to common stockholders of record as of December 10, 2013.  Full Article

Universal Technical Institute Inc Announces Government Declines To Intervene And Closes Investigation In Federal False Claims Act Case
Thursday, 7 Nov 2013 05:52pm EST 

Universal Technical Institute Inc announced that the United States Department of Justice (DOJ )has notified the Company that the DOJ has declined to intervene in the previously disclosed Federal False Claims Act (31 U.S.C. Section 3729, et seq.) lawsuit (the FCA Suit) and that it has closed its investigation. The Company further disclosed that the United States Department of Labor (DOL) has also closed its investigation of a complaint filed by the same former employee with the Occupational Safety and Health Administration of the DOL. As previously disclosed in July 2012, the Company received notice from the DOJ that the Company was the subject of a preliminary investigation into claims brought by a former employee who alleged UTI's compensation of its admissions representatives violated the incentive compensation ban of Title IV of the Higher Education Act, amongst other potential violations allegedly occurring over a number of years. Under the terms of the settlement agreement, UTI and the former employee, Linda Rawles, sought dismissal of the FCA Suit and a final agency disposition of the DOL complaint, which were obtained on October 29, 2013 and November 7, 2013, respectively. The agreement provides that, in return for the dismissal of her claims, the former employee will receive a payment only in respect to her claims in the DOL Complaint.  Full Article

Universal Technical Institute Inc Announces Retirement Of John C. White, Chairman Of The Board
Friday, 4 Oct 2013 07:45am EDT 

Universal Technical Institute Inc announced that John C. White has advised the Board of Directors of his intention to retire from his duties as an executive officer and Chairman of the Board, effective December 9, 2013.  Full Article

Universal Technical Institute Inc Declares Quarterly Cash Dividend
Thursday, 5 Sep 2013 04:30pm EDT 

Universal Technical Institute Inc announced that its board of directors approved a quarterly cash dividend on UTI common stock of $0.10 per share, payable on September 30, 2013, to common stockholders of record as of September 20, 2013.  Full Article

Universal Technical Institute Inc Reaffirms FY 2013 Revenue Guidance-Conference Call
Friday, 26 Jul 2013 03:00pm EDT 

Universal Technical Institute Inc announced that for fiscal 2013, it expects revenues to decline in high-single digit. The Company reported revenue of $413.55 million and net income of $10.19 million in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $381 million for fiscal 2013.  Full Article

Universal Technical Institute Inc Declares Quarterly Cash Dividend
Tuesday, 11 Jun 2013 04:10pm EDT 

Universal Technical Institute Inc announced that its Board of Directors approved a quarterly cash dividend on UTI common stock of $0.10 per share, payable on June 28, 2013, to common stockholders of record as of June 21, 2013.  Full Article

Universal Technical Institute Inc Reaffirms FY 2013 Guidance
Tuesday, 30 Apr 2013 04:05pm EDT 

Universal Technical Institute Inc announced that the new student starts to be down in the third quarter of 2013, before possibly showing year over year improvement in the fourth quarter. The Company anticipate full year new student starts for fiscal 2013 to be down by the mid to high single digits, resulting in a lower average student population for the year. These lower levels of enrollment will most likely result in a high single digit decline in revenue in fiscal 2013. While it expect significantly lower expenses in the second half of the year, the Company still believe it will record an overall decline in operating margin and net income compared to fiscal 2012. The Company reported revenue of $413.55 million and net income of $10.19 million in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $380.49 million and net income of $4.94 million for fiscal 2013.  Full Article

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