Corinthian Colleges Second Quarter Earnings Sneak Peek

Corinthian Colleges Inc (NASDAQ:COCO)¬†will unveil its latest earnings tomorrow, Thursday, January 31, 2013. Corinthian Colleges 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.

Corinthian Colleges Inc Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 7 cents per share, a rise of 75% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate moved down. It has risen from 6 cents during the last month. For the year, analysts are projecting net income of 33 cents per share, no change from last year.

Past Earnings Performance: The company has fallen in line with estimates the last two quarters. In the first quarter, it reported profit of 4 cents per share and two quarters ago booked net income of 11 cents.

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A Look Back: In the first quarter, the company swung to a profit of $1.6 million (2 cents a share) from a loss of $9.6 million (11 cents) a year earlier, meeting analyst estimates. Revenue fell 1.3% to $408.6 million from $414 million.

Here’s how Corinthian Colleges traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week:

coco

Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 1.12 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term. The company regressed in this liquidity measure from 1.25 in the fourth quarter of the last fiscal year to the last quarter driven in part by an increase in liabilities. Current liabilities increased 9.5% to $309.6 million while assets decreased 2.1% to $345.2 million.

Analyst Ratings: There are mostly holds on the stock with eight of 10 analysts surveyed giving that rating.

Key Stats:

On the top line, the company is hoping to use this earnings announcement to snap a string of four-straight quarters of revenue decreases. Revenue fell 13.9% in the second quarter of the last fiscal year, 8.3% in third quarter of the last fiscal year and 14% in the fourth quarter of the last fiscal year and then fell again in the first quarter.

Wall St. Revenue Expectations: On average, analysts predict $410.3 million in revenue this quarter, a decline of 1.2% from the year-ago quarter. Analysts are forecasting total revenue of $1.64 billion for the year, a rise of 1.9% from last year’s revenue of $1.61 billion.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)