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National American University swings to profit in fiscal Q1

National American University Holdings Inc. said its normalized net income for the fiscal first quarter ended Aug. 31 came to 4 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share result swung to a profit from the prior-year loss of 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.1 million, compared with a loss of $363,630 in the year-earlier period.

The normalized profit margin increased to 3.8% from negative 1.2% in the year-earlier period.

Total revenue decreased 5.3% on an annual basis to $29.3 million from $30.9 million, and total operating expenses declined 12.6% on an annual basis to $27.4 million from $31.4 million.

Reported net income totaled $2.3 million, or 9 cents per share, compared to a loss of $250,560, or a loss of 1 cents per share, in the prior-year period.