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DAILY EARNINGS

Apollo Education Net Swings to Loss, Schulman Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 11:44 AM ET January 11 2016

12:00 PM New York Apollo Education first-quarter net swung to a loss of $61 million. Schulman first-quarter net tumbled 61% to $5 million. Computer Services third-quarter net declined 14% to $6 million.

Tollbooth Index increased 54.56 or 0.5% to 10,177.01.

Earnings Review

Apollo Education Group Inc (APOL) surged 14.3% or 93 cents to $7.52 after the private education provider reported revenues in the first-quarter ending in November plunged 18% from a year ago to $586 million.

Net in the quarter swung to a loss of $60.8 million or 56 cents per diluted share compared to profit of $33.8 million or 31 cents per share from the same quarter last year.

A Schulman Inc (SHLM) plunged 8.9% or $2.57 to $26.04 after the plastic formulations services supplier stated net sales in the first-quarter ending in November jumped 5.6% from a year ago to $649.2 million.

Net income in the quarter tumbled 60.6% to $5.2 million or 18 cents per diluted share compared to $13.2 million or 45 cents per share from the same quarter last year.

The company reaffirmed its diluted earnings per share estimate for the year in the range of $2.80 to $2.85.

Computer Services, Inc (CSVI), the information technology solutions provider said revenues in the third-quarter ending in November slumped 3.3% from a year ago to $54.1 million.

Net income in the quarter declined 13.8% to $6.2 million or 44 cents per diluted share compared to $7.2 million or 51 cents per share from the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc