National American University Loss Widens On Expenses

(RTTNews) - National American University Holdings Inc. (NAUH) Wednesday reported first-quarter net loss of $0.3 million, compared with a net loss of $0.2 million last year, hurt by higher selling and general expenses associated with the hiring of additional admissions advisors to support enrollment goals.

On a per share basis, loss for the quarter was flat with last year at $0.01. On average, two analysts polled by Thomson Reuters estimated a loss of $0.01 per share.

Revenue for the quarter climbed 5% to $31 million from $29.5 million in the prior year. Analysts expected revenue of $30.58 million.

Results were impacted by an increase in operating costs to $31 million from $29.5 million last year.

The company said that enrollment by headcount increased 3.8% over the prior-year to 10,743 students as of August 2013. The company's board declared a cash dividend in the amount of $0.045 per common share, up 12.5% from the prior quarter. The dividend will be paid on or about October 11 to shareholders of record as of September 30.