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American Public Education Q2 profit falls 7.3% YOY

American Public Education Inc. said its second-quarter normalized net income amounted to 42 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.

EPS decreased year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.7 million, a decline of 7.3% from $7.3 million in the year-earlier period.

The normalized profit margin rose to 9.1% from 9.0% in the year-earlier period.

Total revenue decreased year over year to $76.7 million from $80.3 million, and total operating expenses decreased from the prior-year period to $66.1 million from $68.7 million.

Reported net income decreased 6.6% year over year to $6.6 million, or 41 cents per share, from $7.1 million, or 42 cents per share.