Strategic Education, Inc. Q1 Profit Decreases, misses estimates

(RTTNews) - Strategic Education, Inc. (STRA) reported a profit for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $7.03 million, or $0.29 per share. This compares with $9.58 million, or $0.40 per share, in last year's first quarter.

Excluding items, Strategic Education, Inc. reported adjusted earnings of $13.06 million or $0.54 per share for the period.

Analysts on average had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.8% to $258.86 million from $290.34 million last year.

Strategic Education, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $7.03 Mln. vs. $9.58 Mln. last year. -EPS (Q1): $0.29 vs. $0.40 last year. -Analyst Estimates: $0.74 -Revenue (Q1): $258.86 Mln vs. $290.34 Mln last year.