Santa Ana vocational schools operator Corinthian Colleges Inc. reported a big drop in profit for the second straight quarter on Tuesday as an effort to rework enrollment and tuition financing took its toll.
Net income fell 75% from a year earlier to $2.6 million for the December quarter. In the September quarter, profits fell 80% from a year earlier.
Revenue for the December quarter was flat from a year earlier at $245 million.
Students at the company’s schools, which train people to work in healthcare, business, criminal justice, technology and other areas, numbered 65,431 in the quarter, down slightly from a year earlier.
The company enrolled 21,554 new students, up less than 1% from a year earlier.
“We remain focused on strengthening management, improving regulatory compliance, consolidating information systems, implementing more competitive marketing strategies and improving overall execution,” said Jack Massimino, Corinthian’s chief executive.
