National American University Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended May 31, 2017
August 03, 2017 at 03:52 pm IST
Share
National American University Holdings, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended May 31, 2017. For the quarter, the company reported total revenue of $22,143,000 against $23,047,000 a year ago. Operating loss was $1,158,000 against $1,475,000 a year ago. Loss before income taxes was $1,218,000 against $1,621,000 a year ago. Net loss attributable to company was $931,000 or $0.04 per diluted share against $970,000 or $0.04 per basic and diluted share a year ago. EBITDA was $197,000 against LBITDA of $76,000 a year ago.
For the full year, the company reported total revenue of $86,587,000 against $96,113,000 a year ago. Operating loss was $7,238,000 against $7,593,000 a year ago. Loss before income taxes was $7,777,000 against $8,198,000 a year ago. Net loss attributable to company was $6,275,000 or $0.26 per basic share against $5,348,000 or $0.22 per basic and diluted share a year ago. LBITDA was $1,943,000 against $1,819,000 a year ago. Cash flows from operating activities improved $3.1 million to $0.8 million for the fiscal year ended May 31, 2017, from cash used in operations of $2.3 million for the nine months ended February 28, 2017. Net loss was primarily as a result of lower revenues, a $1.2 million deferred tax asset valuation allowance, and $1.1 million in one-time impairment charges associated with the consolidation of campus locations; partially offset by lower SG&A expense.
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.