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
- K12 (NYSE:LRN): FQ3 EPS of $0.37 beats by $0.06.
- Revenue of $221.3M (-9.5% Y/Y) beats by $1.6M.
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.