ITT Educational Services, Inc. (NYSE:ESI) stock is sliding as the company posted its quarterly earnings report.
The company posted earnings per share of $1.23 in fiscal 2014 compared to a loss of $1.15 in fiscal 2013. Revenue came in at $961.8 million, down 10.3% year-over-year.
Operating margin increased 70 basis points (bps) to 6.4%. ITT Educational also posted its outlook for 2015.
The company expects new student enrollments to decline year-over-year in the range of 10% to 15%.
Earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to be in the range of $90 million and $110 million.
ESI stock is down 11.78% Wednesday.
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