UPDATE: Strayer Education Posts Decline In Q4 Profit, Issues Weak Q1 Forecast

Strayer Education Inc

posted a drop in its fourth-quarter profit and issued downbeat first-quarter forecast. Strayer Education projects Q1 earnings of $2.07 to $2.09 per share, versus analysts' estimates of $2.24 per share. Strayer's quarterly net income declined to $26.7 million, or $2.30 per share, from $35.9 million, or $2.73 per share, in the year-ago period. Its revenue dropped 9% to $155.8 million. Analysts were expecting earnings of $2.26 per share on revenue of $154.8 million. Strayer Education shares fell 0.41% to close at $115.08 yesterday.