Career Education Corp. Profit Falls 64% In Q2

(RTTNews) - Career Education Corp. (CECO) revealed earnings for second quarter that dropped from last year.

The company said its earnings fell to $4.29 million, or $0.06 per share. This was down from $11.84 million, or $0.17 per share, in last year's second quarter.

Analysts had expected the company to earn -$0.04 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 19.9% to $146.22 million. This was down from $182.63 million last year.

Career Education Corp. earnings at a glance:

-Earnings (Q2): $4.29 Mln. vs. $11.84 Mln. last year. -Earnings Decline (Y-o-Y): -63.8% -EPS (Q2): $0.06 vs. $0.17 last year. -EPS Decline (Y-o-Y): -64.7% -Analysts Estimate: -$0.04 -Revenue (Q2): $146.22 Mln vs. $182.63 Mln last year. -Revenue Change (Y-o-Y): -19.9%