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Strayer Education profit beats consensus by 16.2% in Q2

Strayer Education Inc. said its normalized net income for the second quarter was $1.15 per share, compared with the S&P Capital IQ consensus estimate of 99 cents per share.

EPS decreased 13.7% year over year from $1.34.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $12.3 million, a decline of 13.0% from $14.2 million in the year-earlier period.

The normalized profit margin fell to 11.3% from 12.6% in the year-earlier period.

Total revenue decreased on an annual basis to $109.8 million from $112.7 million, and total operating expenses totaled $88.8 million, compared with $88.7 million in the year-earlier period.

Reported net income decreased 13.3% from the prior-year period to $11.9 million, or $1.11 per share, from $13.7 million, or $1.29 per share.