Laureate Education Q1 Loss Widens On Decreased Revenue; But Raises Annual Revenue Outlook

(RTTNews) - Laureate Education, Inc. (LAUR), an operator of higher education institutions, Thursday reported net loss of $19.5 million or $0.13 per share for the first quarter, higher than $10.8 million or $0.07 per share loss in the same quarter a year ago, primarily impacted by decrease in revenue. However, the company has raised its full-year revenue outlook.

Excluding one-time items, adjusted loss widened to $16.6 million or $0.11 per share from $2.1 million or $0.01 per share loss in the prior year.

Operating loss was $13.2 million, compared with operating income of $11.1 million last year.

Revenue for the quarter decreased 14% to $236.2 million from $275.4 million in the previous year. On an organic constant currency basis, revenue decreased 1%

For the full year, the company now expects revenue in the range of $1.560 billion - $1.575 billion, compared with the previous outlook of $1.545 billion - $1.570 billion.