Bridgepoint Education Inc. (BPI) reported that net income for the fourth quarter of 2012 was $16.0 million, down from $22.9 million for the fourth quarter of 2011. Earnings per common share for the fourth quarter were $0.29 compared with earnings per common share of $0.41 for the fourth quarter of 2011.
Total student enrollment at the Company's academic institutions, Ashford University and University of the Rockies, was 81,810 at December 31, 2012, compared with 86,642 students at the end of the fourth quarter of 2011. Combined new student enrollments for the fourth quarter of 2012 at both of the Company's academic institutions were approximately 9,260, compared with combined new student enrollments of approximately 13,500 for the fourth quarter of 2011.
Revenue for the fourth quarter of 2012 was $209.4 million, compared with revenue of $221.3 million for the fourth quarter of 2011.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share on revenues of $217.56 million for the quarter. Analysts' estimates typically exclude special items.
The company anticipates a 2.75% tuition increase for online students at Ashford University for courses beginning on or after April 1, 2013.
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