Career Education Corp Posts Mixed Earnings (CECO)

Career Education Corp.

reports Q2 earnings of $0.80 versus estimates of $0.62. Career Education Corp. reports Q2 revenues of $527.90 million versus estimates of $531.01 million. "I am pleased with our solid performance in the second quarter, including our continued investment in quality-driven initiatives such as the expansion of student advisory resources," said Gary E. McCullough, President and Chief Executive Officer. "During this period of potential change in our sector, Career Education employees have remained focused on ensuring quality student experiences and outcomes so that we may achieve our long-term goals." During the three months ended June 30, 2010, the company repurchased approximately 2.1 million shares of its common stock for approximately $65.3 million at an average price of $31.57 per share. As of June 30, 2010, approximately $290.5 million was available under the company's authorized stock repurchase program to repurchase outstanding shares of its common stock. Shares of CECO are lower in the after-hours by 0.68%.