Legacy Education Shares Fall on 4Q Profit, Revenue Miss

Dow Jones

Sep 25

Shares of Legacy Education fell after the company's fourth-quarter profit and revenue fell short of analyst expectations.

Shares were down 7.2% to $9.87 in after-hours trading. The stock closed up 3.2% at $10.64 on Thursday, and was up 4.4% year-to-date.

The education company reported a profit of $1.88 million, or 13 cents a share, up from $1.23 million, or 9 cents a share, a year earlier.

Fourth-quarter revenue rose to $20.1 million, up from $18 million a year prior.

Analysts polled by FactSet were expecting a profit of 15 cents a share on $20.2 million in revenue.

Chief Executive Officer LeeAnn Rohmann said the company is entering the new fiscal year with "strong momentum" and a focus on broadening educational access.

"Revenue, new student starts and our year-end student population all increased, reflecting continued demand for our career-focused education programs," Rohmann said. "At the same time, we expanded our academic offerings, increased capacity at key campuses and advanced our geographic expansion strategy."

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The stock closed up 3.2% at $10.64 on Thursday, and was up 4.4% year-to-date. \n\n\n  The education company reported a profit of $1.88 million, or 13 cents a share, up from $1.23 million, or 9 cents a share, a year earlier. \n\n\n  Fourth-quarter revenue rose to $20.1 million, up from $18 million a year prior. \n\n\n  Analysts polled by FactSet were expecting a profit of 15 cents a share on $20.2 million in revenue. \n\n\n  Chief Executive Officer LeeAnn Rohmann said the company is entering the new fiscal year with \"strong momentum\" and a focus on broadening educational access. \n\n\n  \"Revenue, new student starts and our year-end student population all increased, reflecting continued demand for our career-focused education programs,\" Rohmann said. \"At the same time, we expanded our academic offerings, increased capacity at key campuses and advanced our geographic expansion strategy.\"","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}