K12 Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Provides Earnings Guidance for the Third Quarter of Fiscal 2018
January 26, 2018 at 03:00 am IST
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K12 Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2017. For the quarter, the company reported revenues of $217.211 million against $221.090 million a year ago. Income from operations was $13.714 million against $18.323 million a year ago. Net income attributable to common stockholders was $13.259 million or $0.33 per diluted share against $11.652 million or $0.30 per diluted share a year ago. Income before income taxes and non controlling interest was $13.753 million against $18.587 million a year ago. Adjusted operating income of $20.931 million compared to $22.921 million a year ago. Adjusted EBITDA of $39.481 million compared to $41.616 million a year ago.
For the six months, the company reported revenues of $445.996 million against $450.228 million a year ago. Loss from operations was $4.048 million against $4.346 million a year ago. Net income attributable to common stockholders was $5.203 million or $0.13 per basic and diluted share against net loss of $2.181 million or $0.06 per basic and diluted share a year ago. Net cash provided by operating activities was $10.3 million against $12.95 million a year ago. Loss before income taxes and non controlling interest was $3.774 million against $3.740 million a year ago. Net cash used in operating activities was $2.737 million against net cash provided by operating activities of $10.251 million a year ago. Purchase of property and equipment was $5.917 million against $1.276 million a year ago. Capitalized software development costs were $13.378 million against $13.446 million a year ago. Capitalized curriculum development costs were $4.474 million against $9.141 million a year ago. Adjusted operating income of $6,248 million compared to $4,946 million a year ago. Adjusted EBITDA of $45,434 million compared to $41,321 million a year ago.
The company provided earnings guidance for the fiscal third quarter 2018. Revenue is expected in the range of $224 million to $230 million. Adjusted operating income is expected in the range of $25 million to $27 million. Capital expenditures expected in the range of $9 million to $11 million.
Stride, Inc. is an education services company providing virtual and blended learning. It provides tech-enabled education solutions, curriculums, and programs directly to students, schools, the military, and enterprises in primary, secondary and postsecondary settings. It offers K-12 education for students, schools, and districts, including career learning services through middle and high school curriculums. For adult learners, it delivers professional skills training in healthcare and technology, as well as staffing and talent development. Its technology-based products and services enable its clients to attract, enroll, educate, track progress and support students. Its solutions address two markets: General Education and Career Learning. For both the General Education and Career Learning markets, it offers school-as-a-service offering, which includes an integrated package of curriculum, technology systems, instruction, and support services that it administer on behalf of its customers.
K12 Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Provides Earnings Guidance for the Third Quarter of Fiscal 2018
STRIDE, INC. 
