ITT Educational Services Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Year Ending December 31, 2016
For the year, revenue was $849.8 million against $961.8 million a year ago. Operating Income was $79.2 million against $61.3 million a year ago. Net Income was $23.3 million against $23.3 million a year ago. Earnings per diluted share were $0.97 against $0.98 a year ago. Capital expenditures were $7.4 million against $6.1 million a year ago. Income before provision for income taxes was $39.40 million against $40.14 million a year ago. Net cash flows from operating activities were $76.71 million against $136.78 million a year ago. EBITDA was $101.13 million.
For the year ending December 31, 2016, the company expects net income in the range of $5.4 million to $15.0 million, Interest expense, net in the range of $27.5 million $29.5 million, depreciation and amortization in the range of $12.5 million $15.5 million, income taxes in the range of $3.6 million $10.0 million and EBITDA in the range of $50 million to $70 million.