Corinthian Colleges, Inc. Earnings Cheat Sheet: Profit Down

Corinthian Colleges, Inc. (NASDAQ:COCO) reported its results for the fourth quarter. Corinthian Colleges, Inc. is a post-secondary education company in North America. The Company’s mission is to prepare students for careers in demand or for advancement in their chosen field.

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Corinthian Colleges Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for Corinthian Colleges, Inc. fell to $3.4 million (5 cents per share) vs. $33.9 million (39 cents per share) a year earlier. This is a decline of 90.1% from the year earlier quarter.

Revenue: Fell 11.6% to $425.2 million from the year earlier quarter.

Actual vs. Wall St. Expectations: COCO reported adjusted net income of 13 cents per share. By that measure, the company beat the mean estimate of 12 cents per share. Analysts were expecting revenue of $427.6 million.

Quoting Management: “We navigated through a number of challenges in fiscal 2011 and made progress in several areas,” said Jack Massimino, Corinthian chairman and chief executive officer. “We continued to focus on student completion, and we assisted a record number of graduates in finding jobs in their fields of study. In the area of regulatory compliance, we developed and implemented a new compensation program for front-line admissions and student finance representatives and expanded our disclosures related to completion, placement and program costs.”

Key Stats:

The company beat estimates last quarter after being in line with expectations in the third quarter with net income of 21 cents per share.

Revenue has fallen in the past two quarters. In the third quarter, revenue declined 3.3% to $462.3 million from the year earlier quarter.

Competitors to Watch: Apollo Group, Inc. (NASDAQ:APOL), Career Education Corp. (NASDAQ:CECO), American Public Education, Inc. (NASDAQ:APEI), National American Univ. Hldgs., Inc. (NASDAQ:NAUH), DeVry Inc. (NYSE:DV), Grand Canyon Education Inc (NASDAQ:LOPE), Education Management Corp (NASDAQ:EDMC), Strayer Education, Inc. (NASDAQ:STRA), Bridgepoint Education, Inc. (NYSE:BPI), and Lincoln Educational Services Corp. (NASDAQ:LINC).

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(Source: Xignite Financials)