PHOENIX (dpa-AFX) - Apollo Group Inc. (APOL) reported first-quarter income attributable to the company of $149.3 million or $1.14 per share, down from $235.41 million, or $1.61 per share in the year ago quarter.
Excluding the items, income from continuing operations attributable to the company was $167.2 million, or $1.28 per share, compared to income from continuing operations of $238.9 million, or $1.63 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.18 per share for the quarter. Analysts' estimates typically exclude special items.
Consolidated net revenue for the first quarter totaled $1.18 billion, down from $1.33 billion in the year ago quarter. Fourteen analysts had consensus revenue estimate of $1.16 billion for the quarter. This decrease was principally due to lower enrollments at University of Phoenix, which was partially offset by selective tuition price and other fee changes.
For fiscal 2012, the company still expects Operating income, excluding the impact of special items, of $655 million -$780 million and Consolidated net revenue of $4.1 billion - $4.3 billion. Seventeen analysts have consensus revenue estimate of $4.26 billion for fiscal 2012.
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