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Lincoln Educational Services Q2 loss narrows YOY

Lincoln Educational Services Corp. said its second-quarter normalized net income amounted to a loss of 20 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 37 cents per share.

The per-share loss narrowed 29.4% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.7 million, compared with a loss of $6.6 million in the year-earlier period.

The normalized profit margin rose to negative 6.9% from negative 8.6% in the year-earlier period.

Total revenue fell 5.2% year over year to $72.4 million from $76.4 million, and total operating expenses fell 8.4% from the prior-year period to $78.6 million from $85.8 million.

Reported net income totaled a loss of $7.6 million, or a loss of 33 cents per share, compared to a loss of $10.9 million, or a loss of 48 cents per share, in the year-earlier period.