Career Education shares down on lower enrollments - chicagotribune.com
Shares of Career Education Corp.fell as much as 7 percent in pre-market trade after it reported lower quarterly results, hurt by a 27 percent decline in new student sign-ups.
Enrollments at for-profit colleges have taken a hit after they were forced to tighten admission standards in response to a two-year-long U.S. government crackdown on high levels of student debt.
Career's first-quarter income from continuing operations fell to $46.4 million, or 69 cents per share, compared with $70.6 million, or 92 cents per share. Revenue fell 18 percent to $434.1 million.
Career Education shares closed at $7.00 on Thursday on the Nasdaq. They fell to $6.50 in trading before the bell.
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