DeVry Education Beats FQ4 Profit Views; Revenue Grow 1%

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DeVry Education Group
DV
swung to fiscal fourth-quarter profitability that beat Wall Street expectations, although revenue grew just 1 percent. The for-profit college company's Chief Executive Daniel Hamburger said he's "increasingly confident we are reaching an inflection point as we expect revenue growth to continue into the first quarter of fiscal 2015." The company swung to a net profit of $37.5 million or $0.58 a share, from a year-earlier loss of $32.3 million, or $0.51 cents a share. Revenue increased to $485.1 million from $480 million. But excluding a $10 million charge for a workforce reduction and real estate consolidation, adjusted earnings were $0.73 cents a share for the recent period. Analysts expected adjusted earnings of $0.67 cents a share on revenue of $487.5 million. In after-hours trading, DeVry was unchanged at $40.59 a share.
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Posted In: EarningsNewsAfter-Hours Center
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