Strayer Education Q2 Profit Falls, Misses Estimates

(RTTNews) - Strayer Education Inc. (STRA) Wednesday announced 34 percent decline in second quarter net income to $7.8 million from $11.9 million in the previous year. On a per share basis, earnings were down 35 percent to $0.72 from $1.11 last year. The results were impacted by higher costs as well as reduced income from operations.

On average, three analysts polled by Thomson Reuters expected the company to earn $1.04 per share. Analysts estimates usually exclude special items.

Revenues for the quarter declined one percent to $108.5 million from $109.8 million in the prior year. Wall Street was looking for $109.21 million.