K12 4Q results beat analysts’ expectations

The Associated Press

Published: Thursday, Aug. 29, 2013 – 3:55 am

HERNDON, Va. – Online educational provider K12 said Thursday that its fiscal fourth-quarter net income climbed 28 percent, helped by interest income.

The company earned $2.3 million, or 6 cents per share, for the three months ended June 30. That compares with $1.8 million, or 5 cents per share, a year earlier.

Analysts surveyed by FactSet expected earnings of 3 cents per share.

The latest quarter included $1.7 million in interest income, while the prior-year period included an interest expense of $267,000.

Revenue rose 19 percent to $203.1 million from $170.4 million, topping Wall Street’s estimate of $201.4 million.

For the year, K12 Inc. earned $28.1 million, or 72 cents per share. A year earlier it earned $17.5 million, or 45 cents per share. Annual revenue climbed 20 percent to $848.2 million from $708.4 million.

Average student enrollments increased 12.7 percent. There was also a rise in the average revenue per student in the managed public schools business.

K12 shares finished at $31.96 on Wednesday after hitting a 52-week high of $32.40 earlier in the day.

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K12 (LRN) Scheduled to Post Earnings on Thursday

Posted by matt on Aug 28th, 2013 // No Comments

http://thetruthaboutk12.com//wp-content/uploads/2015/09/K12 (NYSE:LRN) is scheduled to announce its Q4 2013 earnings results before the market opens on Thursday, August 29th. Analysts expect the company to announce earnings of $0.03 per share and revenue of $200.96 million for the quarter. Investors interested in listening to the company’s can do so using this link .

Shares of K12 (NYSE:LRN ) opened at 31.73 on Wednesday. K12 has a one year low of $15.83 and a one year high of $32.40. The stock’s 50-day moving average is $30.88 and its 200-day moving average is $26.76. The company has a market cap of $1.160 billion and a P/E ratio of 45.79.

A number of analysts have recently weighed in on LRN shares. Analysts at Zacks downgraded shares of K12 from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, August 12th. They now have a $34.60 target on the stock.

Two analysts have rated the stock with a hold rating and five have issued a rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $30.12.

In other K12 news, CEO Ronald Packard sold 8,000 shares of the stock in a transaction that occured on Wednesday, August 21st. The shares were sold at an average price of $30.71, for a total transaction of $245,680.00. Following the completion of the transaction, the now directly owns 188,008 shares in the company. The transaction was disclosed in a legal filing with the SEC, which is available at this link .

K12 Inc (NYSE:LRN ) is a technology-based education company.

Get Analysts’ Upgrades and Downgrades via – Stay on top of analysts’ coverage with Analyst Ratings Network’s FREE daily email newsletter that provides a concise list of analysts’ upgrades and downgrades. Click here to register now .

K12 Rating Increased to Outperform at Zacks (LRN )

K12 Inc. logo

K12 (NYSE: LRN) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued on Tuesday, Analyst Ratings Network.com reports. The firm currently has a $31.50 price objective on the stock. Zacks ‘ price target suggests a potential upside of 8.47% from the company’s current price.

Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of K12 in a research note to investors on Monday, May 20th. They now have a $33.00 price target on the stock, up previously from $28.00.

One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. K12 currently has an average rating of “Buy” and a consensus target price of $29.50.

Shares of K12 (NYSE: LRN ) traded up 0.45% during mid-day trading on Tuesday, hitting $29.17. K12 has a one year low of $15.83 and a one year high of $30.89. The stock’s 50-day moving average is currently $28.27. The company has a market cap of $1.067 billion and a P/E ratio of 41.49.

K12 (NYSE: LRN) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.08. The company had revenue of $218.00 million for the quarter, compared to the consensus estimate of $212.85 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts predict that K12 will post $0.69 earnings per share for the current fiscal year.

K12 Inc (NYSE: LRN ) is a technology-based company.

To view Zacks’ full report, visit www.zacks.com

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K12 Given Buy Rating at Stifel Nicolaus (LRN )

http://thetruthaboutk12.com//wp-content/uploads/2015/09/ K12 (NYSE: LRN)‘s stock had its “buy” rating restated by equities researchers at Stifel Nicolaus in a report issued on Monday, StocKRatingsNetwork.com reports. They currently have a $33.00 target on the stock, up from their previous target price of $28.00.

The analysts wrote, “In fact the outlook for the core managed school heading into next year is looking stronger thus improving prospects for another strong year of earnings and EBITDA growth and a catalyst for the stock, in our view. Although controversy and volatility in the shares is expected to continue, we believe that the company is well positioned to facilitate school choice and participate in the growth of online and individualized learning and the shift to digital delivery of educational content. Growing acceptance of this modality and recognition of its potential for educational efficacy and cost efficiency is driving the market. Moreover, improving profitability (margins) from a low base driven by operating and organizational efficiency and leveraging of the cost structure should drive high rates of EPS growth, in our opinion. Short covering in a rising market has and could continue to contribute to price strength.

K12 (NYSE: LRN ) traded up 0.30% on Monday, hitting $29.70. K12 has a 52-week low of $15.83 and a 52-week high of $30.03. The stock’s 50-day moving average is currently $25.47. The company has a market cap of $1.086 billion and a price-to-earnings ratio of 42.30.

K12 (NYSE: LRN) last issued its quarterly earnings on Friday, May 3rd. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.08. The company had revenue of $218.00 million for the quarter, compared to the consensus estimate of $212.85 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 22.3% on a year-over-year basis. Analysts expect that K12 will post $0.69 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on LRN. Analysts at First Analysis initiated coverage on shares of K12 in a note to investors on Thursday, April 4th. They set an “overweight” rating on the stock. Analysts at TheStreet upgraded shares of K12 from a “hold” rating to a “buy” rating in a research note to investors on Monday, March 25th.

One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $29.00.

K12 Inc. (NYSE: LRN ) is a technology-based company.

Get Analysts’ Upgrades and Downgrades via Email – Stay on top of analysts’ coverage with Analyst Ratings Network’s FREE daily email newsletter that provides a concise list of analysts’ upgrades and downgrades. Click here to register now .

K12 Management Discusses Q3 2013 Results – Earnings Call Transcript

May 3 2013, 15:10 | about: LRN

K12 (LRN ) Q3 2013 Earnings Call May 3, 2013 8:30 AM ET

Operator

Good day, ladies and gentlemen, and welcome to the Q3 2013 K12 Inc. Earnings Conference Call. My name is Catherine, and I will be your operator for today. [Operator Instructions] As a reminder, this call is being recorded for replay purposes. I would like to turn the call over to Christi Parker, Vice President of Investor Relations. Please proceed, ma’am.

Christina L. Parker Vice President of Investor Relations

Thank you, and good morning. Welcome to K12’s Third Quarter Fiscal 2013 Earnings Conference Call. Before we begin, the company would like to remind you that statements made during this conference call that are not historical facts may be considered forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied.

In addition, this conference call contains time-sensitive information that reflects management’s best analysis only as of the day of this live call. K12 does not undertake any obligation to publicly update or revise any forward-looking statements.

For further information concerning issues that could materially affect financial performance related to forward-looking statements, please refer to our filings with the SEC. These filings can be found on the Investor Relations section of our website at www.k12.com.

In addition to disclosing results in accordance with generally accepted accounting principles in the U.S., or GAAP, we will discuss certain information that is considered non-GAAP financial information. A reconciliation of this non-GAAP financial information to the most closely comparable GAAP information was included in our earnings release and is also posted on our website. This call is open to the public and is being webcast. The call will be available for replay on our website for 60 days.

With me on today’s call is Nate Davis, Executive Chairman; Ron Packard, Founder and Chief Executive Officer; Tim Murray, President and Chief Operating Officer; and Harry Hawks, Chief Financial Officer. Following our prepared remarks, we will answer any questions you may have. I would now like to turn the call over to Nate.

Nathaniel Alonzo Davis – Executive Chairman, Member of Audit Committee and Member of Compensation Committee

Good morning. Thank you for joining us today. Since joining the executive team, I’ve gained a deep perspective and understanding of our strengths and our challenges as a company leading the transformation to online education solutions for students in Pre-K to high school. As the industry leader, K12 often takes the brunt of assaults for online education as our integrity and our effectiveness are sometimes questioned. This is to be expected. But I’m very proud of our employees, their resolve and all that we accomplished even in the face of these challenges. This quarter highlighted 2 important examples of the real truth about K12 and what we stand for and what we believe in.

In early March, we announced that after reviewing more than 1 million pages of discovery, the lead plaintiff in a class-action lawsuit against the company, voluntarily and permanently dismissed the claims it made about the academic performance and educational quality of K12 Managed Schools, a very powerful indication [ph] of the company. And just last week, the draft reported the Florida Department of Education’s Office of Inspector General conclusively established that the primary allegations made by Seminole County Public Schools were unsubstantiated. K12 did not implement a system to intentionally avoid Florida’s teacher certification requirements. And that report found only a few record-keeping and reporting errors. We’ve already improved and implemented changes in our student data management system and teacher-training procedures to make improvements.