K12 Q2 Adj. Profit Beats Street View

(RTTNews) - K12 Inc. (LRN), a provider of proprietary curriculum and online school programs for students in pre-K through high school, Tuesday reported a loss for the second quarter compared with profit in the same period last year, mainly due to higher costs. After adjusting for certain items, the company reported profit which topped analysts' estimates.

K12 reported loss of $3.7 million, or $0.09 per share, compared with a profit of $9.5 million, or $0.24 per share, reported for the second quarter last year.

Excluding certain items, the company reported profit of $13.75 million, or $0.36 per share. On average, eight analysts polled by Thomson-Reuters estimated the company's profit to be $0.32 for the quarter. Analysts' estimates typically exclude one-time items.

Loss from operations was $8.91 million compared with a profit of $16.27 million in the corresponding period last year.

For the three months to December, EBITDA declined to $25.6 million from $32.5 million a year earlier.

Revenue for the 3-month period rose to $223.92 million from $206.03 million a year earlier. Analysts expected revenue of $223.27 million.Total student enrollments declined 6.1 percent to 4,135 from 4,403 a year ago.

Looking ahead, the company expects third-quarter revenue of $225 million to $235 million, operating income of $23 million to $27 million, and capital expenditures of $15 million to $20 million.