National American University Holdings, Inc. Announces Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended Feb. 28, 2017
April 06, 2017 at 02:35 am IST
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National American University Holdings, Inc. announced unaudited consolidated earnings results for third quarter and nine months ended Feb. 28, 2017. For the quarter, the company reported total revenue of $21,331,000, operating loss of $2,212,000, loss before income taxes of $2,381,000, net loss attributable to company and subsidiaries of $2,536,000 or basic and diluted per share of $0.1 compared to the total revenue of $22,678,000, operating loss of $2,844,000, loss before income taxes of $2,998,000, net loss attributable to company and subsidiaries of $1,891,000 or basic and diluted per share of $0.08 for the same quarter a year ago. LBITDA was $938,000 against $1,400,000 a year ago. This decrease in academic revenue was primarily a result of a decrease in enrollment. The increase in net loss was primarily the result of a $1 million valuation allowance the company recorded against its deferred tax asset. This noncash charge reduced the benefit from income taxes and was a result of the company's assessment of the realizability of its deferred tax assets over a certain period of time.
For the year to date, the company reported total revenue of $64,444,000, operating loss of $6,080,000, loss before income taxes of $6,559,000, net loss attributable to company and subsidiaries of $5,344,000 or basic and diluted per share of $0.22 compared to the total revenue of $73,066,000, operating loss of $6,118,000, loss before income taxes of $6,577,000, net loss attributable to company and subsidiaries of $4,378,000 or basic and diluted per share of $0.18 for the same period a year ago. LBITDA was $2,140,000 against $1,743,000 a year ago.
National American University Holdings, Inc., through its wholly owned subsidiary, Dlorah, Inc., operates National American University (NAU). NAU is a regionally accredited, institution of higher learning offering associate, bachelor's, master's, and doctoral degree programs in technical and professional disciplines. NAU consists of a group of educators, which helps its students to achieve their educational goals to advance their career opportunities. The Company's courses are offered primarily through online instruction.