Strayer Education, Inc. (STRA) has reported a 10.14 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $11.72 million, or $1.07 a share in the quarter, compared with $13.04 million, or $1.21 a share for the same period last year.
Revenue during the quarter grew 4.94 percent to $119.28 million from $113.66 million in the previous year period. Gross margin for the quarter contracted 169 basis points over the previous year period to 45.63 percent. Total expenses were 83.52 percent of quarterly revenues, up from 80.95 percent for the same period last year. That has resulted in a contraction of 258 basis points in operating margin to 16.48 percent.
Operating income for the quarter was $19.65 million, compared with $21.66 million in the previous year period.
Operating cash flow drops significantly
Strayer Education, Inc. has generated cash of $44.51 million from operating activities during the year, down 42.60 percent or $33.04 million, when compared with the last year.
The company has spent $20.80 million cash to meet investing activities during the year as against cash outgo of $12.69 million in the last year.
The company has spent $1.36 million cash to carry out financing activities during the year as against cash outgo of $120.25 million in the last year period.
Cash and cash equivalents stood at $129.24 million as on Dec. 31, 2016, up 20.92 percent or $22.36 million from $106.89 million on Dec. 31, 2015.
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