Corinthian Colleges Predicts 2nd-quarter Revenue will Beat Wall Street Expectations

SANTA ANA Calif.

Corinthian Colleges Inc. predicted second-quarter revenue will beat Wall Street expectations on Tuesday and raised its fiscal year 2008 earnings and revenue outlook.

Corinthian expects second-quarter earnings from continuing operations of 9 cents to 11 cents, excluding any one-time items.

The company expects quarterly revenue to range from $265 million to $270 million.

Analysts surveyed by Thomson Financial, who typically exclude discontinued operations and one-time items, forecast second-quarter earnings of 11 cents per share on revenue of $260.9 million.

For the full fiscal year 2008, Corinthian expects earnings per share at the high end of the company’s previous guidance of 40 cents to 45 cents. The company expects revenue to range from $1.05 billion to $1.07 billion in 2008, compared with previous guidance of $1.04 billion to $1.06 billion.

Analysts forecast full-year earnings of 42 cents per share on revenue of $1.03 billion.

Also Tuesday, Corinthian said first-quarter earnings surged 40 percent, beating Wall Street expectations, as new student starts and total student population both increased.



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