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SCHAUMBURG, Ill. (AP) — Shares of Career Education Corp. surged in after-market trading Tuesday after the for-profit education company posted a smaller quarterly loss than Wall Street expected.
The Schaumburg, Illinois-based company reported a loss of $25.5 million in its fourth quarter, or 38 cents per share. Losses, adjusted to account for discontinued operations, came to 12 cents per share.
Analysts were expected an adjusted loss of 29 cents a share, according to FactSet.
The company posted revenue of $174.2 million in the period. That was below expectations of $232.5 million, according to FactSet.
A year ago, Career Education posted a fourth-quarter loss of $30.6 million, or 46 cents a share, on revenue of $199.4 million.
For the year, the company reported that its loss widened to $178.2 million, or $2.65 per share, from $164.3 million, or $2.46 a share. Revenue was reported as $741.4 million, down from $839.7 million.
Career Education's stock was up 67 cents, or 13 percent, to $5.90 in extended trading following the earnings report. Through the end of regular-session trading Tuesday, the shares have declined 26 percent since the beginning of the year.
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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CECO at http://www.zacks.com/ap/CECO
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Keywords: Career Education, Earnings Report
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