K12 Inc. Expects Fall In Revenue For Q1, FY16

(RTTNews) - Technology-based education company K12 Inc. (LRN) Wednesday said it expects first-quarter 2016 revenue in a range of $218 million to $222 million, down from the prior year revenue of $236.7 million. The company said the decline was due to the Agora Cyber School shifting from a managed to non-managed programme.

On average, 3 analysts polled by Thomson Reuters were looking for a loss of $0.26 per share on revenue of $218.62 million. Analysts estimates usually exclude special items.

For the full year 2016, the company expects revenue of $830 million to $865 million, projecting a significant slide from its prior year revenue of $948.3 million. Wall Street expects earnings of $0.38 per share on revenue of $870.62 million for the fiscal period.