Apollo Group - Not Interesting At This Point, Despite Sell Off
By Robert Broens: Shares of Apollo Group (APOL), the private education provider, ended the day 8% lower as the company announced its second quarter results Monday after the close.Second quarter resultsApollo reported a net income of $64 million for the second quarter, or $0.51 per share, which exceeded the analyst consensus of $0.37 per share. Last year the company lost $66 million over the three month period. Revenues fell 7.5% on the year to $970 million, which beats analyst expectations of $933 million. Enrollments for its main University of Phoenix continued to fall by 12%, however enrollment growth will return later this year.OutlookFor the entire fiscal year of 2012 Apollo expects net revenue in the range of $4.1-$4.3 billion. Excluding special items, it expects operating income of around $625-$725 million. The outlook is unchanged from the update of February 28, when the company lowered its full year 2012 outlookComplete Story »
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