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DeVry Q2 Profit Falls, Misses Estimate

(RTTNews.com) - DeVry Inc. (DV) reported net income for the second quarter of $8.9 million or $0.13 per share, compared to $88.7 million or $1.25 per share for the year-ago quarter.

The latest quarter results include non-cash goodwill and intangible asset impairment charges of $55.8 million after-tax, or $0.82 per share, for Carrington Colleges Group and a $2.2 million after-tax gain, or $0.03 per share, related to the sale of Becker's Stalla CFA review operations.

Excluding items, adjusted net income for the latest quarter was $62.4 million or $0.92 per share.

Revenues for the second quarter fell 5% to $524.05 million from $551.46 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.00 per share on revenue of $535.55 million for the second quarter.

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