Aspen Group, Inc (ASPU) swung to a net profit for the quarter ended Jan. 31, 2017. The company has made a net profit of $0.01 million in the quarter, against a net loss of $0.67 million in the last year period. Revenue during the quarter surged 72.62 percent to $3.74 million from $2.16 million in the previous year period. Gross margin for the quarter expanded 962 basis points over the previous year period to 63.62 percent. Operating margin for the quarter period stood at positive 2.29 percent as compared to a negative 29.68 percent for the previous year period.
Operating income for the quarter was $0.09 million, compared with an operating loss of $0.64 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.46 million compared to negative $0.18 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 12.36 percent for the quarter compared to negative 8.17 percent in the last year period.
“Given we’ve delivered new student enrollment records the past four quarters, and expect to continue that trend in our current quarter, we are now comfortable raising our CAGR organic guidance for the fiscal year’s 2017 and 2018 from over 50% to over 60%” said chairman and chief executive officer, Michael Mathews. “The unit economics of our business model are so strong that our gross profits this quarter were approximately $92,000 higher than our revenues were in the quarter a year ago,” continued Mathews.
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