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Grand Canyon Education, Inc. Message Board

  • blast21 blast21 May 4, 2010 6:49 PM Flag

    WOW !!! Upgrades likely coming

    * Q1 EPS $0.25 beats est $0.20/shr

    * Q1 enrollments up 36 pct year-over-year

    * Q1 revenue up 61 pct

    * Sees Q2 enrollments up 32 pct to 36 pct

    May 4 (Reuters) - Grand Canyon Education Inc (LOPE.O) posted a first-quarter profit that beat market estimates, helped by a rise in enrollments, and said it expects the trend to continue in the second quarter.

    For the second quarter ending June 30, the education provider expects enrollments between 36,500 to 37,500, up 32 percent to 36 percent from the year-ago quarter.

    For the first quarter ended March 31, Grand Canyon reported net income of $11.5 million, or 25 cents a share, compared with $5.1 million, or 11 cents a share a year ago.

    Revenue increased 61 percent to $89.3 million, with enrollments up more than 36 percent to 38,900 for the quarter.

    Analysts on average were expecting the company to earn 20 cents a share on revenue of $84.3 million, according to Thomson Reuters I/B/E/S.

    Shares of the Phoenix-based company closed at $25.03 Tuesday on Nasdaq. (Reporting by Biswarup Gooptu in Bangalore; Editing by Don Sebastian)

 
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