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K12 Inc. fiscal Q1 loss widens 58.8% YOY

K12 Inc. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of 22 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 22 cents per share.

The per-share loss increased 59.5% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $8.4 million, compared with a loss of $5.3 million in the year-earlier period.

The normalized profit margin fell to negative 3.5% from negative 2.3% in the year-earlier period.

Total revenue increased on an annual basis to $236.7 million from $228.4 million, and total operating expenses grew 5.5% from the prior-year period to $249.9 million from $236.8 million.

Reported net income totaled a loss of $6.8 million, or a loss of 18 cents per share, compared to a loss of $5.0 million, or a loss of 13 cents per share, in the prior-year period.