Lincoln Educational Services Corp. (LINC) reported Monday net income available to common shareholders for the fourth quarter declined $6.79 million or $0.22 per share from $8.36 million or $0.27 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter were $10.02 million, compared to $9.95 million in the year-ago quarter.
On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter grew 13.6 percent to $102.52 million from $91.78 million in the same quarter last year. Analysts expected revenues of $96.20 million for the quarter.
Looking ahead to fiscal 2024, the company now projects revenues in a range of $410 million to $420 million, while analysts expect revenues of $382.92 million for the year.
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