Wed, Aug. 10, 7:19 AM
Tue, Aug. 9, 10:02 AM
- K12 (LRN -9.7%) slumps after missing profit estimates with its FQ4 report.
- EBITDA and operating income were lower than a year ago, with revenue from managed public school programs down 9% Y/Y.
- Enrollment for managed public school programs was down 10% to 98,406 students, while enrollment at non-managed public school programs was up 35% to 25,723 students.
- Revenue per student: Managed public school program +0.8% to $1,864; non-managed public school programs -2% to $434.
- Previously: K12 misses by $0.04, beats on revenue (Aug. 9)
- The company says it will issue FY17 guidance near the end of October.
Tue, Aug. 9, 7:38 AM
Mon, Aug. 8, 5:30 PM
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Mon, Jun. 13, 3:53 PM
- The Department of Education published a set of proposed rules that define when students can take legal action against for-profit colleges and petition to have their federal loans forgiven.
- Some consumer advocacy groups don't think the measures go for enough, while pro-industry associations are railing against the extra regulation.
- On watch: CECO, DV, STRA, ESI, LOPE, APEI, LINC, BPI, LRN, EDU, NAUH.
- Proposed DOE rules (.pdf)
Wed, Apr. 27, 10:11 AM
- K12 (NYSE:LRN) tracks higher after FQ3 results arrived ahead of consensus estimates.
- Revenue per enrollment was down 3.9% to $1,776 for managed public school programs, but improved 6% to $490 for non-managed public school programs.
- The company sees Q4 revenue of $205M to $215M vs. $204M consensus.
- K12 is up 8.6% today and has rallied 50% since SA contributor Jonathan Cukierwar made a bold call in January. For the record, no Wall Street firm was down with a Buy rating during the runup.
Wed, Apr. 27, 7:02 AM
Tue, Apr. 26, 5:30 PM
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Mon, Apr. 18, 12:54 PM
- K12 (LRN -8.2%) is the subject of a detailed report by the San Jose Mercury News on abuses with the charter school system in California.
- The for-profit company is alleged to be in control of a network of California Virtual Academy locations which are classified as tax exempt.
- K12 maintains that it isn't calling the shots at the schools.
- The Mercury News also makes the claim that K12 Inc.'s attendance and enrollment figures for charter schools may be exaggerated.
Tue, Feb. 9, 9:13 AM
- The Department of Education announces it created an enforcement unit to help crack down on student aid fraud and illegal recruiting tactics.
- "We've also seen too many programs that promise students a better life only to leave them with piles of debt without the prospects to pay them," stated Education Secretary John King.
- On watch: CECO, DV, STRA, ESI, LOPE, APEI, LINC, BPI, LRN, EDU, NAUH, APOL, EDMC.
Thu, Jan. 28, 8:07 AM
- K12 (NYSE:LRN) reports FQ2 operating income fell 28% Y/Y to $14.7M.
- Managed public school program revenue fell 13% to $170.35M, while non-managed public school program revenue rose 36%.
- The company expects FQ3 revenue of $215M to $225M vs. $215.4M consensus.
- Previously: K12 beats by $0.01, misses on revenue (Jan. 28 2016)
Thu, Jan. 28, 7:35 AM
- K12 (NYSE:LRN): FQ2 EPS of $0.23 beats by $0.01.
- Revenue of $208.81M (-9.7% Y/Y) misses by $2.73M.
Wed, Jan. 27, 5:30 PM
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Nov. 18, 2015, 12:26 PM
- A probe by the Department of Education and California Attorney General found Corinthian Colleges (NASDAQ:COCO) overstated school placement rates by a large percentage in order to help attract students.
- Corinthian Colleges closed operations last year amid intense scrutiny.
- It's another black eye for the for-profit education sector which has seen several scandals over the last year.
- YTD performance of some of the for-profit players: Apollo Education (NASDAQ:APOL) -79%, DeVVry (NYSE:DV) -52%, Capella (NASDAQ:CPLA) -40.7%, American Public Education (NASDAQ:APEI) -38%, Bridgepoint Education (NYSE:BPI) -31%, Strayer Education (NASDAQ:STRA) -32%, K12 (NYSE:LRN) -22%, Grand Canyon Education (NASDAQ:LOPE) -17%.
Oct. 27, 2015, 7:25 AM
- K12 (NYSE:LRN) showed a wider operating loss in FQ1 than a year ago.
- Managed public school programs revenue fell 12% to $177.46M.
- Non-managed public school programs revenue increased 50% to $15.71M.
- Enrollment was down 12% at managed public school programs, while the non-managed public school program saw a 35% gain in enrollment.
- Guidance: The company expects Q2 revenue of $205M-$215M and operating income of $10M-$15M.
- Previously: K12 misses by $0.05, beats on revenue (Oct. 27 2015)
Oct. 27, 2015, 7:17 AM
- K12 (NYSE:LRN): FQ1 EPS of -$0.34 misses by $0.05.
- Revenue of $221.2M (-6.6% Y/Y) beats by $3.18M.
K12, Inc. is a technology-based education company. The company offers proprietary curriculum, software systems and educational services designed to facilitate individualized learning for students primarily in kindergarten through 12th grade. Its learning systems combine curriculum, instruction... More
Industry: Education & Training Services
Country: United States