Bridgepoint Education's (BPI) first-quarter net income slid to $23.47 million, or $0.43 a share, from $33.04 million, or $0.59 a share, for the same period in 2012.
Revenue for the first quarter of 2013 was $222.0 million, compared with revenue of $250.4 million for the same period in 2012. On average, 10 analysts polled by Thomson Reuters expected earnings per share of $0.41, on revenue of $217.40 million for the quarter. Analysts' estimates typically exclude one-time items.
Total student enrollment at Bridgepoint Education's academic institutions, Ashford University and University of the Rockies, was 78,782 students at March 31, 2013, versus 94,863 students at the end of the first quarter of 2012.
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