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K12 Inc. profit beats consensus by 25.9% in fiscal Q3

K12 Inc. said its normalized net income for the fiscal third quarter ended March 31 amounted to 47 cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.

EPS climbed 5.2% year over year from 44 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $17.4 million, compared with $17.5 million in the year-earlier period.

The normalized profit margin dropped to 7.1% from 7.5% in the year-earlier period.

Total revenue increased year over year to $244.6 million from $235.2 million, and total operating expenses rose year over year to $217.2 million from $207.8 million.

Reported net income increased 6.3% year over year to $16.8 million, or 45 cents per share, from $15.8 million, or 40 cents per share.