Apollo Group posts 2nd-quarter loss

Apollo Group has lost $32 million in the fiscal second quarter because of a charge related to a class action lawsuit. Shares declined in Thursday's aftermarket trading session, as adjusted profit and sales both missed Wall Street expectations. The Phoenix-based education company, which operates the University of Phoenix posted a loss of $32 million, or a loss of 19 cents per share, in the quarter ended Feb. 29. A year ago, Apollo earned $60.3 million, or 35 cents per share. Excluding the $168.4 million pretax litigation charge, special items related to a stock option investigation, restatement costs and stock-based compensation, Apollo recorded a profit of $70.3 million, or 41 cents per share. Revenue jumped nearly 14 percent to $693.6 million from $608.7 million.

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