K12 Inc. (LRN), a provider of proprietary, technology-based curriculum, software and education services created for individualized learning for students primarily in kindergarten through 12th grade, announced its results for the third fiscal quarter ended March 31, 2013. Net income to common and Series A stockholders was $12.0 million, an increase of $5.0 million, or 71.4 percent, as compared to $7.0 million in the prior year period.
Earnings per share, excluding Series A stockholders, were $0.31 compared to $0.18 in the prior year period.
Revenues grew to $218.0 million, an increase of $39.8 million, or 22.3 percent, as compared to $178.2 million for the prior year period. This increase was primarily due to organic revenue growth of $39.4 million, or 26.0 percent, in our core Managed Public Schools business.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share on revenues of $212.85 million for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2013, the company now expects Revenue of $840 million to $850 million, compared to prior estimate of $840 million to $860 million.
Analysts expect the company to report revenues of $844.91 million for the quarter.
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