- Career Education Corp. revealed a net loss of $100.2 million and a net income of $55.4 million for the second quarter.
- The for-profit college company has been dealing with numerous setbacks, including U.S. Justice Department investigations and a Senate report this week that was critical of for-profit colleges.
- Career Education shares have falled 41% this year, according to a Bloomberg report.
From the article:
Career Education Corp. (CECO), a for-profit college chain with more than 90 campuses, fell as much as 18 percent in extended trading after reporting a second-quarter loss and disclosing a regulatory investigation.
The company said it had a net loss of $100.2 million, or $1.52 a share, compared with net income of $55.4 million, or 73 cents, a year earlier, according to a statement yesterday. Career Education, in a regulatory filing, also said that the U.S. Securities and Exchange Commission is conducting an inquiry of its job-placement rates. ...