Bridgepoint Education Q2 Profit Down - Quick Facts

(RTTNews) - Bridgepoint Education (BPI), a provider of postsecondary education services, Tuesday reported a sharp decline in net income for the second quarter, particularly reflecting lower student enrollment.

For the three-month period, the company reported net income of $10.3 million or $0.19 per share, compared with $43.2 million or $0.77 per share during the same period last year.

On average, seven analysts polled by Thomson Reuters expected earnings per share of $0.25 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues decreased to $197.5 million, from $256.3 million last year. Analysts expected the company to report revenues of $200.16 million. Total student enrollment at Bridgepoint Education's academic institutions, Ashford University and University of the Rockies, was 71,685 students compared with last year's 92,620 students. New student enrollments were about 10,600 compared with about 19,300 a year ago.