Apollo Group Q1 Profit Declines - Quick Facts

(RTTNews) - Educational services provider Apollo Group, Inc. (APOL) Tuesday reported first-quarter net income attributable to Apollo of $98.9 million, or $0.87 per share, compared to $133.5 million or $1.18 per share last year.

Excluding items, income was $118.7 million or $1.04 per share, down from $137.9 million or $1.22 per share in the comparable quarter last year. On average, 17 analysts polled by Thomson Reuters expected earnings of $0.90 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue for quarter dropped to $856.34 million from $1.06 billion in the prior year quarter, while thirteen analysts expected revenues of $860.58 million for the quarter.

For the fiscal year 2014, the company continues to expect net revenue of $3.0 - $3.1 billion and now expects operating income of $400 - $450 million, excluding special items. Analysts expect revenues of $3.04 billion for the year.

Earlier, the company expected operating income of $375 - $450 million, excluding special items.