The 10-second takeaway
For the quarter ended March 31 (Q1), Bridgepoint Education beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. GAAP earnings per share dropped significantly.
Margins shrank across the board.
Bridgepoint Education logged revenue of $222.0 million. The 10 analysts polled by S&P Capital IQ wanted to see a top line of $217.4 million on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $250.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.43. The nine earnings estimates compiled by S&P Capital IQ forecast $0.41 per share. GAAP EPS of $0.43 for Q1 were 27% lower than the prior-year quarter's $0.59 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 51.7%, much worse than the prior-year quarter. Operating margin was 17.0%, 820 basis points worse than the prior-year quarter. Net margin was 10.6%, 260 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $215.9 million. On the bottom line, the average EPS estimate is $0.42.
Next year's average estimate for revenue is $820.4 million. The average EPS estimate is $1.26.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bridgepoint Education is hold, with an average price target of $10.75.
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