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Strayer Education Q1 profit falls 24.0% YOY

Strayer Education Inc. said its first-quarter normalized net income amounted to $1.09 per share, compared with the S&P Capital IQ consensus estimate of $1.06 per share.

EPS declined 25.1% year over year from $1.45.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $11.7 million, a decrease of 24.0% from $15.3 million in the prior-year period.

The normalized profit margin dropped to 10.4% from 13.2% in the year-earlier period.

Total revenue decreased year over year to $111.9 million from $116.5 million, and total operating expenses grew year over year to $92.0 million from $90.6 million.

Reported net income decreased 23.2% from the prior-year period to $11.4 million, or $1.06 per share, from $14.8 million, or $1.40 per share.