(RTTNews) -  Wednesday, Bridgepoint Education Inc. (BPI: News ) reported third-quarter net income of $22.4 million or $0.37 per share, compared to $8.8 million or $0.07 per share in the same quarter last year.

On a non-GAAP basis, the company reported net income of $22.5 million or $0.38 per share for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to earn $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $127.4 million from $60.3 million in the comparable quarter last year. Analysts expected the company to report revenue of $115.31 million for the quarter.
Looking ahead to the full year 2009, the company expects revenue in the range of $443.0 million - $448.0 million with net income in the range of $40.6 million - $41.8 million or $0.65 - $0.67 per share. On a non-GAAP basis, net income is expected to be in the range of $66.2 million - $67.4 million or $1.15 - $1.17 per share.

Earlier the company expected revenue to be in the range of $425.0 million - $430.0 million with net income in the range of $32.4 million - $33.5 million or $0.50 - $0.52 per share. Non-GAAP net income was expected to in the range of $58.1 million - $59.2 million or $1.00 - $1.02 per share.

Analysts currently anticipate the company to earn $1.01 per share on revenue of $428.66 million.

To receive FREE breaking news email alerts for Bridgepoint Education Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com