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Strayer falls on Q4 outlook

The for-profit college said Q3 EPS fell 70% to 36 cents vs. $1.20 a share a year ago, beating views by 4 cents. Revenue fell about 9% to $124.3 mil, just above analysts estimates of $123.5 mil. Strayer (STRA), which has seen EPS and sales fall 5 quarters in a row, plans to eliminate its '13 dividend and raise tuition fees by 3% starting in Jan. to boost revenue. For Q4 Strayer expects earnings of $1.43-$1.45 per share, below analyst views of $1.59. Shares dropped 17.2% to 46.51.