Strayer Education Inc. said its normalized net income for the second quarter amounted to 74 cents per share, compared with the S&P Capital IQ consensus estimate of $1.06 per share.
EPS decreased 35.5% year over year from $1.15.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.0 million, a decline of 35.0% from $12.3 million in the prior-year period.
The normalized profit margin fell to 7.4% from 11.3% in the year-earlier period.
Total revenue decreased on an annual basis to $108.5 million from $109.8 million, and total operating expenses climbed 7.6% year over year to $95.6 million from $88.8 million.
Reported net income decreased 34.6% on an annual basis to $7.8 million, or 72 cents per share, from $11.9 million, or $1.11 per share.