- National American University (OTC:NAUH -2.9%) reports Q1 revenue decrease of 18.9% Y/Y to $16.04M, the decrease was primarily due to decrease in enrolment.
- Academic tuition revenue was $14.7M & auxiliary revenue was $0.7M.
- Educational services expense decreased to $6.4M or 41.2% of total academic segment revenue.
- SG&A expenses also decreased to $13.1M or 81.5% of total revenue.
- Adjusted LBITDA, which excludes loss on disposition of property was 3M (-30.4% Y/Y).
- Student enrollment for the summer 2018 term was 4,974 students (-15.9% Y/Y) & credit hours during the summer term 45,860 (-16.5% Y/Y).
- Cash & equivalents was $3.2M, restricted cash of $9.3M, working capital deficit of $5.4M, long-term debt of $7.2M, and stockholders’ equity of $11.8M.
- Previously: National American University reports Q1 results (Oct. 10)
National American University down 2.9% post Q1 results
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