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Strayer Education profit beats consensus by 16.8% in Q1

Strayer Education Inc. said its first-quarter normalized net income amounted to $1.17 per share, compared with the S&P Capital IQ consensus estimate of $1.00 per share.

EPS rose 8.0% year over year from $1.09.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $12.6 million, a gain of 8.4% from $11.7 million in the prior-year period.

The normalized profit margin increased to 11.4% from 10.4% in the year-earlier period.

Total revenue came to $111.2 million, compared with $111.9 million in the prior-year period, and total operating expenses declined from the prior-year period to $90.9 million from $92.0 million.

Reported net income increased 8.9% year over year to $12.4 million, or $1.15 per share, from $11.4 million, or $1.06 per share.