UPDATE: Lincoln Reports Upbeat Q4 Profit, Projects Loss For First Quarter

Lincoln Educational Services Corp LINC reported a decline in its fourth-quarter net income. Lincoln projects to post a Q1 loss of $0.18 to $0.22 per share on revenue of $102 million to $105 million. Analysts were projecting a profit of $0.09 per share on revenue of $107.3 million. Lincoln's fourth-quarter net income dropped to $6.2 million, or $0.28 per share, from $23.2 million, or $1.04 per share, in the year-ago period. Its revenue declined 31% to $115.6 million. However, analysts were expecting earnings of $0.23 per share, on revenue of $115.3 million. Lincoln's shares closed at $8.05 yesterday.