American Public Education 2010 earnings outlook misses Street, but revenue to top forecast
By APMonday, February 22, 2010
American Public Education issues 2010 outlook
CHARLES TOWN, W.Va. — Online university company American Public Education Inc. issued financial guidance for 2010 on Monday.
The company said it expects annual net income to grow from 36 percent to 37 percent in 2010, compared with 2009, on revenue that increases 36 percent to 39 percent.
That would mean net income of $32.6 million to $32.8 million, and revenue of $202.6 million to $207.1 million.
Analysts are currently looking for a higher net income of $33.5 million for 2010, according to Thomson Financial, but lower revenue of $202.2 million.
American Public Education also said Monday its fourth-quarter earnings rose 66 percent, as more students enrolled and signed up for classes. The company’s shares gained $1.51, or 3.8 percent, to $41 in after-hours trading, after ending the regular session down 85 cents, or 2.1 percent, at $39.49.
