Universal Technical Institue Reports EPS of $0.28 vs. $0.27 Estimate (UTI)

Universal Technical Institue UTI Reports EPS of $0.28 vs. $0.27 Estimate. Universal Technical Institute today reported net revenues for the second quarter ended March 31, 2011 of $114.2 million, an 8.1 percent increase from $105.6 million for the second quarter of the prior year. Net income for the second quarter ended March 31, 2011 was $7.0 million, an increase of 15.7 percent from $6.0 million for the second quarter of the prior year. Earnings per share for the second quarter ended March 31, 2011 was 28 cents per diluted share as compared to 25 cents per diluted share for the second quarter ended March 31, 2010. Net revenues for the six months ended March 31, 2011 were $231.6 million, a 10.7 percent increase from $209.2 million for the six months ended March 31, 2010. Net income for the six months ended March 31, 2011 was $17.3 million, an increase of 12.6 percent as compared to net income of $15.3 million for the six months ended March 31, 2010. Earnings per share for the six months ended March 31, 2011 was 70 cents per diluted share as compared to 63 cents per diluted share for the six months ended March 31, 2010. Return on equity (1) for the trailing four quarters ended March 31, 2011 was 26.2 percent compared to 25.6 percent for the trailing four quarters ended Sept. 30, 2010. "We continue to evaluate and adjust to both the macro economic and regulatory environments," said Kimberly McWaters, chief executive officer. "Additionally, we are focused on improving efficiencies and aligning our cost structure with our student populations and resulting revenue. While our emphasis on graduate placement is proving effective, we believe there is still work to be done and further improvement to be seen."