Career Education Posts Wider Than Estimated Q3 Loss

(RTTNews) - Career Education Corp. (CECO) reported a net loss for the third quarter of $48.0 million or $0.71 per share, compared to a net loss of $87.1 million or $1.30 per share for the year-ago quarter.

Loss from continuing operations for the third quarter was $45.9 million or $0.68 per share, compared to a loss from continuing operations of $34.9 million or $0.52 per share in the prior year quarter.

Total revenue for the third quarter fell 6.8% to $227.5 million from $244.2 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.57 per share on revenue of $224.47 million for the third quarter.