Research Desk Line-up: Tarena Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 8, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Adtalem Global Education Inc. (NYSE: ATGE) ("Adtalem"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ATGE, following the Company's posting of its financial results on August 17, 2017, for the fourth quarter fiscal 2017. The Company's Technology & Business segment's operating income increased 28.7% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Education & Training Services industry. Pro-TD has currently selected Tarena International, Inc. (NASDAQ: TEDU) for due-diligence and potential coverage as the Company announced on August 21, 2017, unaudited its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Tarena when we publish it.
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For three months ended June 30, 2017, Adtalem's total revenue decreased 4.3% to $451.47 million from $471.70 million in Q4 FY16. During Q4 FY17, the Company's tuition revenue decreased 5.7% to $405.40 million from $429.76 million in Q4 FY16. Total revenue was below analysts' expectations of $454 million.
For the reported quarter, the Company's operating cost and expenses decreased 19.8% to $398.10 million from $496.56 million in Q4 FY16.
During Q4 FY17, Adtalem's operating income was $53.37 million compared to operating loss of $24.86 million in Q4 FY16.
During Q4 FY17, Adtalem's net income was $42.86 million compared to net loss of $9.97 million in Q4 FY16. For the reported quarter, the Company's adjusted net income increased 21.4% to $50.04 million from $41.21 million in Q4 FY16. During Q4 FY17, Adtalem's diluted EPS was $0.67 compared to negative diluted EPS of $0.16 in Q4 FY16. For the reported quarter, the Company's adjusted diluted EPS increased 20% to $0.78, from $0.65 in Q4 FY16. The adjusted diluted EPS surpassed analysts' expectation of $0.72.
During Q4 FY17, the Company repurchased 483,000 shares.
Adtalem's Segment Details
Medical and Healthcare - During Q4 FY17, the Medical and Healthcare segment's revenue increased 5 basis points to $193.13 million from $193.04 million in Q4 FY16. For the reported quarter, the segment's operating income increased 9.1% to $40.97 million from $37.56 million in Q4 FY16. During Q4 FY17, the segment's adjusted operating income increased 12.2% to $42.89 million from $38.23 million in Q4 FY16.
Professional Education - During Q4 FY17, the Professional Education segment's revenue increased 26.5% to $39.86 million from $31.50 million in Q4 FY16. For the reported quarter, the segment's operating income decreased 10.9% to $11.06 million from $12.41 million in Q4 FY16. During Q4 FY17, the segment's adjusted operating income decreased 16.8% to $11.06 million from $13.29 million in Q4 FY16.
Technology and Business - During Q4 FY17, the Technology and Business segment's revenue increased 11% to $52.90 million from $74.69 million in Q4 FY16. For the reported quarter, the segment's operating income increased 28.7% to $19.34 million from $15.03 million in Q4 FY16.
US Traditional Postsecondary - During Q4 FY17, the US Traditional Postsecondary segment's revenue decreased 21.3% to $136.25 million from $173.17 million in Q4 FY16. For the reported quarter, the segment's operating loss was $4.57 million compared to operating loss of $78.47 million in Q4 FY16. During Q4 FY17, the segment's adjusted operating loss was $898,000 compared to an adjusted operating loss of $1.18 million in Q4 FY16.
As on June 30, 2017, Adtalem's cash and cash equivalents decreased 21.5% to $241.98 million from $308.16 million in Q4 FY16.
During Q4 FY17, the Company's net accounts receivable increased 6.8% to $173.36 million, from $162.39 million in Q4 FY16. For the reported quarter, Adtalem's accounts payable decreased 62 basis points to $64.29 million from $64.69 million in Q4 FY16.
During FY17, the Company's cash from operating activities was $227.96 million compared to $228.01 million in FY16.
For Q1 FY18, Adtalem expects total revenue growth to be negative 4% to 5%.
For FY18, Adtalem expects total revenue growth to be negative 1% and estimates capital expenditure to be in the range of $65 million-$70 million. The Company expects the effective tax rate to be in the range of 21%-22% for fiscal 2018.
On Thursday, September 07, 2017, the stock closed the trading session at $34.35, climbing 2.84% from its previous closing price of $33.40. A total volume of 584.34 thousand shares have exchanged hands, which was higher than the 3-month average volume of 459.66 thousand shares. Adtalem Global Education's stock price skyrocketed 4.25% in the past six months and 50.86% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 10.10%. The stock is trading at a PE ratio of 18.00 and has a dividend yield of 1.05%. At Thursday's closing price, the stock's net capitalization stands at $2.11 billion.
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