Grand Canyon 4th Quarter Profit Beats Street Estimates

Grand Canyon Education Inc posted a fourth-quarter profit above market expectations, helped by higher enrollment and margins.

The for-profit education provider forecast first-quarter earnings of 26 cents to 27 cents a share, compared with analysts' estimate of 27 cents a share, according to Thomson Reuters I/B/E/S.

The company said enrollments at Dec. 31 were 43,917, growth of about 6 percent from last year.

The October-December net income rose to $15.3 million, or 34 cents a share, compared with $6.3 million, or 13 cents a share, a year ago. Revenue jumped 13 percent to $113 million.

Analysts, on average, had expected earnings of 28 cents a share on revenue of $113.9 million.

Shares of the company closed at $17.84 on Tuesday on the Nasdaq.

REUTERS

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