Strayer Education Q1 Profit Rises, Tops View; Spring Term Enrollments Up

(RTTNews) - Strayer Education, Inc. (STRA) reported Wednesday that its fist-quarter net income was $12.42 million, 9 percent higher than $11.39 million last year. Earnings per share were $1.15, compared to $1.06 in 2015.

Excluding non-cash adjustments, net income was $11.4 million, compared to $11.3 million a year ago. Adjusted earnings per share was $1.06, compared to $1.05 last year.

On average, four analysts polled by Thomson Reuters expected earnings of $1.02 per share. Analysts' estimates typically exclude special items.

Revenues for the three months decreased 1 percent to $111.17 million from $111.89 million last year, principally due to lower revenue per student, partially offset by higher enrollment. Analysts were looking for revenues of $111.65 million.

Total enrollments at Strayer University for the spring term 2016 increased to 41,029 students, from 40,875 students for the spring term 2015. New student enrollments decreased by 7 percent, and continuing student enrollments increased by 2 percent.