PAA Research Comments On ITT Educational Services (ESI)

PAA Research provided color on ITT Educational Services' ESI Q4 2010 and spring enrollment announcements in a research report published today. In the report, PAA Research states, "In our 11 years following the for-profit postsecondary education space we have not encountered an earnings release which yielded as many “head scratching” questions as ESI's has this morning. Several elements of the company's 1Q11 earnings and spring term enrollment intake contradict what we know about industry-wide trends related to new student starts and marketing cost trends." Shares of ITT Educational Services were trading at $67.90 at the time of posting, up 2.80% from Wednesday's market close.