American Public Education, Inc. (APEI) has reported a 29.60 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $6.89 million, or $0.42 a share in the quarter, compared with $9.79 million, or $0.60 a share for the same period last year. Revenue during the quarter dropped 8.48 percent to $78.62 million from $85.91 million in the previous year period. Gross margin for the quarter contracted 361 basis points over the previous year period to 61.79 percent. Total expenses were 85.69 percent of quarterly revenues, up from 81.70 percent for the same period last year. That has resulted in a contraction of 399 basis points in operating margin to 14.31 percent.
Operating income for the quarter was $11.25 million, compared with $15.72 million in the previous year period.
For the first-quarter 2017, American Public Education, Inc. forecasts revenue to decline in the range of 12 percent to 10 percent. The company expects diluted earnings per share to be in the range of $0.25 to $0.30.
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