K12 Inc. Reports Q2 EPS of $0.23 vs. $0.24

K12 Inc. LRN today announced its results for the second fiscal quarter ended December 31, 2010. Revenues for the second quarter grew to $129.0 million, an increase of 38.4 percent over the second quarter in the prior year, primarily due to strong enrollment growth and acquisitions. Net income to shareholders for the second quarter was $7.8 million as compared to net income to shareholders of $9.6 million in the same period in the prior year, a decrease of 18.7 percent. Earnings per share are $0.23 as compared to $0.32 in the same period in the prior year.