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K12 Inc. profit beats consensus by 26.9% in fiscal Q2

K12 Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 36 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS increased 33.5% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $13.3 million, a gain of 24.1% from $10.7 million in the year-earlier period.

The normalized profit margin increased to 5.7% from 4.8% in the year-earlier period.

Total revenue rose on an annual basis to $231.3 million from $223.9 million, and total operating expenses climbed from the prior-year period to $210.8 million from $207.7 million.

Reported net income totaled $12.3 million, or 33 cents per share, compared to a loss of $3.6 million, or a loss of 9 cents per share, in the year-earlier period.