Apollo Education Posts Lower Q3 Profit; Cuts FY15 Revenue Outlook

(RTTNews) - Apollo Education Group, Inc. (APOL) reported net income for the third quarter of $48.1 million or $0.44 per share, compared to $66.0 million or $0.51 per share for the year-ago quarter.

Excluding special items, adjusted earnings for the latest quarter were $57.5 million or $0.53 per share.

Net revenue for the third quarter fell to $681.5 million from $793.6 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.47 per share on revenue of $698.57 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward, the company lowered its fiscal year 2015 revenue outlook to a range of $2.60 billion to $2.62 billion from its prior outlook of $2.63 billion to $2.68 billion. Analysts currently expect the company to post revenue of $2.63 billion for the fiscal year 2015.