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K12 returns to profit in its 4th quarter

Thursday - 9/13/2012, 12:12pm  ET

HERNDON, Va. - Educational software provider K12 Inc. returned to a profit in its fiscal fourth-quarter as enrollment climbed during the year. Its results topped analysts' expectations.

The Herndon, Va., company, which provides proprietary curriculum, software and education services for students primarily in kindergarten through 12th grade, said Wednesday it earned $1.8 million, or 5 cents per share, for the three months ended June 30. That compares with a loss of $2.8 million, or 8 cents per share, a year ago.

Analysts predicted a loss of 1 cent per share, according to a FactSet poll.

Revenue increased 33 percent to $170.4 million from $128.3 million as managed public school revenue rose 34 percent.

Wall Street forecast $163.4 million.

For the year, K12 earned $17.5 million, or 45 cents per share, up from $12.8 million, or 37 cents per share, a year earlier.

Annual revenue rose 36 percent to $708.4 million from $522.4 million.

Total average enrollments for students in managed public schools climbed by more than 41 percent to 100,686.

K12 Inc. says it will give its fiscal 2013 forecast the week of Oct. 8.

Shares of K12 added $2.57 to $23.95 in afterhours trading Wednesday. They have risen from a low of $17.07 per share in early January and peaked for the past year at $37 in late October.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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