K12 Fourth-quarter Profit Rises, Beats Estimates - Quick Facts

(RTTNews) - K12 Inc. (LRN), a technology-based education company, Thursday reported an increase in the fourth-quarter net income, on higher revenues, significantly from its managed public schools business. The earnings also exceeded the Street estimates.

Net income attributable to common stockholders including Series A stockholders rose to $2.2 million or $0.06 per share, from prior year's $1.8 million or $0.05 per share last year. EBITDA, a non-GAAP measure, grew 7.3 percent to $19 million for the quarter.

On average, eight analysts polled by Thomson Reuters expected earnings per share of $0.03 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the three-month period increased 19.2 percent to $203.1 million from $170.4 million a year ago. The increase in revenue was primarily due to organic revenue growth of 20.8 percent in the managed public schools business, the company said. The Street expected the company to report revenues of $200.96 million.