Corinthian Colleges’ Income Nearly Doubles; Revenue Up 32%
Corinthian Colleges Inc., Costa Mesa owner of private post-secondary education facilities, reported that net income for the fiscal fourth quarter nearly doubled to $4.5 million, or 43 cents a share, from $2.3 million, or 23 cents a share, a year earlier. Revenue for the three months ended June 30 rose 32% to $46 million.
For the year, the company earned $15.4 million, or $1.48 a share, up from $4.5 million, or 48 cents a share, the previous year. Revenue rose 28% to $170.7 million.
New student enrollments rose 21.9% in the fourth quarter and 17.4% for the year, the company said.
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