ITT Educational Services Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Reports Goodwill Impairment Charge for the Third Quarter Ended September 30, 2015
For the nine months, the company reported revenue of $647,384,000 compared to $718,580,000 a year ago. Operating income was $51,792,000 compared to $26,628,000 a year ago. Income before provision for income taxes was $21,761,000 compared to $24,315,000 a year ago. Net income was $12,851,000 compared to $14,336,000 a year ago. Basic and diluted earnings per share were $0.54 compared to $0.60 per diluted share a year ago. Net cash flows from operating activities were $53,319,000 compared to $91,603,000 a year ago. Capital expenditures, net were $5,819,000 compared to $4,455,000 a year ago.
The company reported Goodwill impairment charge for the third quarter ended September 30, 2015. For the quarter, the company reported Goodwill impairment of $5,203,000.