BPI being crushed for reporting inline conservative estimates, but looking
at the recent past. I see that BPI strategy is to be conservative and then blow away estimates on earnings day. Thats called damage control type strategy by not over promising and then missing.
BPI is a strong buy under $25 in my personal opinion.
Bridgepoint profit soars as enrollments riseBridgepoint Education profit soars nearly eight times higher as student enrollments rise
On Monday May 3, 2010, 9:08 am EDT
SAN DIEGO (AP) -- Bridgepoint Education Inc. said Monday its first-quarter profit surged above expectations as more students enrolled in its online courses.
The for-profit school, based in San Diego, said it earned $29.8 million, or 49 cents per share, in the three months ended March 31, up sharply from $3.3 million, or 3 cents per share, a year ago.
Revenue rose 85 percent to $156.1 million from $84.3 million.
Analysts polled by Thomson Reuters had expected, on average, a profit of about 39 cents per share on $143.8 million in revenue.
Bridgepoint said student enrollments rose 56.5 percent to 65,788. During the recession, enrollments at for-profit schools grew strongly because of the tough job market and state budget cuts for traditional four-year public colleges.
For the year, Bridgepoint expects student enrollments to grow to 69,000 to 71,000, with earnings per share ranging from $1.86 to $1.88.
Analysts expect profit of about $1.88 per share for the year, on average.