National Education Corp. Expects Improved Quarter
National Education Corp., the Newport Beach vocational and industrial training company, said it expects to post sharply higher financial results for the first quarter ended March 31 than it achieved in the same period last year. The increased earnings should return the company to “about the same level” as its 1983 first-quarter performance, Jack Polley, vice president of communications, said Friday. National earned $2.4 million in the first three months of 1983.
Additionally, H. David Bright, NEC’s president and chief executive officer, said the company’s directors have declared a 3-for-2 stock split for shareholders of record on April 21. The additional shares will be distributed in early May. The split increases the number of common shares outstanding to nearly 14.4 million, from almost 9.6 million.