American Public Education, Inc. (APEI) has reported a 56.39 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $4.51 million, or $0.28 a share in the quarter, compared with $10.34 million, or $0.64 a share for the same period last year. Revenue during the quarter dropped 9.86 percent to $75.69 million from $83.97 million in the previous year period. Gross margin for the quarter contracted 288 basis points over the previous year period to 61.74 percent. Total expenses were 89.02 percent of quarterly revenues, up from 80.98 percent for the same period last year. That has resulted in a contraction of 804 basis points in operating margin to 10.98 percent.
Operating income for the quarter was $8.31 million, compared with $15.97 million in the previous year period.
For the second-quarter 2017, American Public Education, Inc. expects revenue to decline in the range of 10 percent to 7 percent. The company projects diluted earnings per share to be in the range of $0.19 to $0.24.
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