Santa Ana-based Corinthian Colleges Inc. said Tuesday it will restate revenue for the year ended June 2001 through the quarter ended March 31.
The vocational college operator said the restatement was necessary after it changed its methods for tracking revenue for some diploma programs.
Corinthian said the restatement is immaterial with respect to year-over-year growth percentages.
The restatement also will have no impact on the company’s previously reported cash flows from operating activities, the company said.
Corinthian’s stock was down 2.4% in afterhours trading. In June the company said it sees profits for the quarter ended June 30 at nearly $12 million, down from an earlier forecast of about $19 million.
