UPDATE: DeVry FQ4 Profit Down 89%
DeVry (NYSE: DV) reported an 89% drop in its fiscal fourth-quarter profit.
DeVry's quarterly earnings declined to $8.09 million, or $0.12 per share, versus $75.2 million, or $1.08 per share, in the year-ago period. Excluding items, DeVry earned $0.47 per share.
Its revenue dropped 7.5% to $505.9 million. However, analysts were expecting a profit of $0.46 per share on revenue of $508.4 million.
DeVry shares closed at $19.87 yesterday.
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