American Public Education Earnings: APEI Stock Sinks Despite EPS Beat
American Public Education (NASDAQ:APEI) posted its latest quarterly earnings results after the bell Tuesday, bringing in earnings that topped what Wall Street projected in its consensus estimate, but APEI stock fell late in the day.
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For its fourth quarter of its fiscal 2018, the Charles Town, West Virginia-based company amassed net income of $9.1 million, an increase of 8% when compared to the same period a year ago, when it amassed a net income of $8.4 million. This amounted to 55 cents per diluted share, about 4 cents higher than during the same period in its fiscal 2017.
Analysts were calling for American Public Education to amass quarterly earnings of 52 cents per share, according to a survey of analysts conducted by Zacks Investment Research. The company added that its consolidated revenue for the period was down by 1% to $76.9 million when compared to the $78.1 million it posted during the same period in its fiscal 2017.
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For its fiscal 2018, the company’s total consolidated revenue came in at around $297.7 million, below the $299.2 million from its fiscal 2017. Consolidated income from operations before interest income and income taxes was $32.5 million, below the $34.9 million from 2017.
APEI stock fell about 0.3% during regular trading hours Tuesday in anticipation of the company reporting its results. Shares were down about 10.5% after the bell despite its profit beat.
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