Apollo Group Q4 Profit Plunges; Issues FY14 Revenue Outlook - Quick Facts

(RTTNews) - Educational services provider Apollo Group, Inc. (APOL) Tuesday reported fourth-quarter net income attributable to Apollo of $21.6 million or $0.19 per share, compared to $75.4 million or $0.66 per share last year.

Income from continuing operations attributable to Apollo Group was $21.4 million, or $0.19 per share, compared to $47.5 million, or $0.46 per share in the prior year quarter.

Excluding items, income from continuing operations was $63.1 million or $0.55 per share, up from $58.6 million or $0.52 per share in the comparable quarter last year.

On average, 16 analysts polled by Thomson Reuters expected earnings of $0.25 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue for quarter dropped to $844.98 million from $996.50 million in the prior year quarter, while fourteen analysts expected revenues of $823.60 million for the quarter.

For the fiscal year 2014, the company expects net revenue of $2.95 - $3.05 billion and operating income of $375 - $450 million, excluding special items. Analysts expect revenues of $3.21 billion for the year.