Education Mgmt beats by $0.03, beats on revs; guides DecQ and FY12 EPS below consensus (19.52 -0.05)
Reports Q1 (Sep) earnings of $0.24 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.21; revenues rose 2.4% year/year to $682.1 mln vs the $677.7 mln consensus. Co issues downside guidance for Q2 (Dec), sees EPS of $0.45-0.47 vs. $0.56 Capital IQ Consensus Estimate. Co issues downside guidance for FY12, sees EPS of $1.34-1.40, excluding non-recurring items, vs. $1.51 Capital IQ Consensus Estimate. “Our guidance for fiscal 2012 reflects lower new student enrollment results leading up to our October start and a greater than expected increase in the number of student drops from the Argosy University Online transition to a non-term academic calendar. While lower enrollment will impact our financial expectations for the remainder of the fiscal year, we believe that we will likely experience improving new student enrollment trends in calendar year 2012.”
