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Student drop and profit slide at ITT Educational Services

  • ITT Educational Services (ESI) says total student enrollment fell 5.8% to 57,542 in Q4.
  • The company's operating margin fell 260 bps to -7.9% as the revenue kicked up by each enrolled student fell during the period.
  • Bad debt as a percentage of sales was up 210 bps to 9%.
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