ITT Educational Services Inc. (ESI, Financial) filed Quarterly Report for the period ended 2011-06-30.
Itt Educational Services Inc. has a market cap of $2.59 billion; its shares were traded at around $92.3 with a P/E ratio of 7.88 and P/S ratio of 1.62. Itt Educational Services Inc. had an annual average earning growth of 35.5% over the past 10 years. GuruFocus rated Itt Educational Services Inc. the business predictability rank of 4.5-star.
Cost of educational services increased $8.5 million, or 6.4%, to $142.3 million in the three months ended June 30, 2011 compared to $133.8 million in the three months ended June 30, 2010. The primary factors that contributed to this increase included, in order of significance:
Student services and administrative expenses increased $4.7 million, or 4.2%, to $115.6 million in the three months ended June 30, 2011 compared to $111.0 million in the three months ended June 30, 2010. The principal cause of this increase was an increase in media advertising expenditures, which was partially offset by a reduction in the amount of bad debt expense.
Operating income decreased $27.2 million, or 17.3%, to $130.0 million in the three months ended June 30, 2011 compared to $157.1 million in the three months ended June 30, 2010, as a result of the impact of the factors discussed above in connection with revenue, cost of educational services, and student services and administrative expenses. Our operating margin decreased to 33.5% in the three months ended June 30, 2011 compared to 39.1% in the three months ended June 30, 2010, as a result of the impact of the factors discussed above.
Interest income increased $0.3 million, or 48.2%, to $0.8 million in the three months ended June 30, 2011 compared to $0.5 million in the three months ended June 30, 2010, primarily due to amortization of the discount on the Subordinated Note. Interest expense was $0.5 million in both the three months ended June 30, 2011 and 2010.
Six Months Ended June 30, 2011 Compared with Six Months Ended June 30, 2010. Revenue decreased $14.8 million, or 1.9%, to $771.0 million in the six months ended June 30, 2011 compared to $785.8 million in the six months ended June 30, 2010. The primary factors that contributed to this decrease included, in order of significance:
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Itt Educational Services Inc. has a market cap of $2.59 billion; its shares were traded at around $92.3 with a P/E ratio of 7.88 and P/S ratio of 1.62. Itt Educational Services Inc. had an annual average earning growth of 35.5% over the past 10 years. GuruFocus rated Itt Educational Services Inc. the business predictability rank of 4.5-star.
Highlight of Business Operations:
Three Months Ended June 30, 2011 Compared with Three Months Ended June 30, 2010. Revenue decreased $14.0 million, or 3.5%, to $387.9 million in the three months ended June 30, 2011 compared to $401.8 million in the three months ended June 30, 2010. The primary factors that contributed to this decrease included, in order of significance:Cost of educational services increased $8.5 million, or 6.4%, to $142.3 million in the three months ended June 30, 2011 compared to $133.8 million in the three months ended June 30, 2010. The primary factors that contributed to this increase included, in order of significance:
Student services and administrative expenses increased $4.7 million, or 4.2%, to $115.6 million in the three months ended June 30, 2011 compared to $111.0 million in the three months ended June 30, 2010. The principal cause of this increase was an increase in media advertising expenditures, which was partially offset by a reduction in the amount of bad debt expense.
Operating income decreased $27.2 million, or 17.3%, to $130.0 million in the three months ended June 30, 2011 compared to $157.1 million in the three months ended June 30, 2010, as a result of the impact of the factors discussed above in connection with revenue, cost of educational services, and student services and administrative expenses. Our operating margin decreased to 33.5% in the three months ended June 30, 2011 compared to 39.1% in the three months ended June 30, 2010, as a result of the impact of the factors discussed above.
Interest income increased $0.3 million, or 48.2%, to $0.8 million in the three months ended June 30, 2011 compared to $0.5 million in the three months ended June 30, 2010, primarily due to amortization of the discount on the Subordinated Note. Interest expense was $0.5 million in both the three months ended June 30, 2011 and 2010.
Six Months Ended June 30, 2011 Compared with Six Months Ended June 30, 2010. Revenue decreased $14.8 million, or 1.9%, to $771.0 million in the six months ended June 30, 2011 compared to $785.8 million in the six months ended June 30, 2010. The primary factors that contributed to this decrease included, in order of significance:
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