Education Management Corp. (EDMC: Quote) reported that its fourth quarter net loss was $1.2 billion, or $9.51 per share, compared to a net income of $34.8 million, or $0.26 per share, for the prior year quarter.
Net income, excluding certain expenses was $12.7 million or $0.10 per share for the latest quarter. On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share. Analysts' estimates typically exclude special items.
Net revenues for the quarter were $639.2 million, down 8.1% from $695.4 million in the comparable quarter last year, while twelve analysts expected revenues of $643.25 million for the quarter.
For the first-quarter, net loss, and loss per share are expected to be between $10 million or $0.08. Analysts expect the company to report earnings of $0.05 per share for the first-quarter.
For fiscal 2013, net income and earnings per share are now expected to be between $68 million or $0.54. Analysts expect the company to report earnings of $0.13 per share for fiscal 2013.
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by RTT Staff Writer
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