Apollo Education Group Slips To Loss In Q2; Cuts FY15 Revenue Outlook

(RTTNews) - Apollo Education Group, Inc. (APOL) reported that its second-quarter net loss attributable to the company was $33.6 million or $0.31 per share, compared to net income of $14.6 million or $0.13 per share in the prior year.

Loss from continuing operations was $33.6 million, compared to income of $16.6 million, prior year. Loss per share from continuing operations attributable to Apollo was $0.31, compared to profit of $0.15. Excluding special items, loss from continuing operations attributable to Apollo for the latest second quarter was $10.4 million, or $0.10 per share.

On average, 11 analysts polled by Thomson Reuters expected the company to report loss per share of $0.16 for the quarter. Analysts' estimates typically exclude special items.

Net revenue decreased to $578.57 million from $672.75 million, last year. Analysts expected revenue of $584.61 million for the quarter.

Looking ahead to the third quarter, the company expects net revenue to be in the range of $690 million to $705 million. Analysts expect the company to report third-quarter revenue of $740.86 million.

For fiscal 2015, the company now expects net revenue in the range of $2.63 billion to $2.68 billion, down from its previous range of $2.74 billion to $2.80 billion. Analysts expect the company to report 2015 revenue of $2.73 billion.