CHARLES TOWN, W.Va. (AP) — CHARLES TOWN, W.Va. (AP) — American Public Education Inc. (APEI) on Tuesday reported a first-quarter loss of $5.7 million, after reporting a profit in the same period a year earlier.
The Charles Town, West Virginia-based company said it had a loss of 38 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 45 cents per share.
The for-profit education company posted revenue of $149.7 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $151.4 million.
For the current quarter ending in June, American Public Education said it expects revenue in the range of $145.5 million to $147.5 million.
American Public Education shares have fallen 57% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.23, a decline of 71% in the last 12 months.
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, source Associated Press News