UNIVERSAL TECHNICAL INSTITUTE, INC UTI Income Statement

Universal technical institute, inc (UTI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Jun'10
Revenue
Revenues
82,717	87,234	87,666	79,042	81,746	83,050	80,256	74,890	80,663	81,156	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revenues
-	-	-	-	-	-	-	-	-	-	-	76,258	82,497	84,179	-	82,266	88,192	89,773	90,653	85,106	91,235	95,680	95,313	91,329	94,711	97,040	95,852	90,954	95,075	98,441	101,361	99,601	106,240	106,427	111,358	108,934	114,161	117,447	107,525
Operating expenses:
Educational services and facilities
42,909	42,876	43,924	42,836	45,822	45,735	47,954	44,737	45,817	44,081	44,919	44,120	44,834	47,154	47,929	47,044	49,770	49,652	50,753	47,690	48,143	47,830	49,440	48,763	50,777	51,074	50,252	49,140	50,456	49,692	54,204	52,621	53,422	51,732	54,110	57,990	57,692	53,836	53,712
Selling, general and administrative
40,307	40,104	38,304	36,661	41,504	44,520	43,353	41,953	43,666	40,679	37,524	34,922	36,976	35,638	44,196	40,672	44,192	42,314	40,772	41,412	40,690	42,250	41,993	41,555	45,546	42,908	44,100	41,356	46,558	42,743	44,764	45,462	49,803	47,368	47,651	44,238	45,079	46,758	43,956
Total operating expenses
83,216	82,980	82,228	79,497	87,326	90,255	91,307	86,690	89,483	84,760	82,443	79,042	81,810	82,792	92,125	87,716	93,962	91,966	103,882	89,102	88,833	90,080	91,433	90,318	96,323	93,982	94,352	90,496	97,014	92,435	98,968	98,083	103,225	99,100	101,761	102,228	102,771	100,594	97,668
(Loss) income from operations
-499	4,254	5,438	-455	-5,580	-7,205	-11,051	-11,800	-8,820	-3,604	-1,114	-2,784	687	1,387	-5,210	-5,450	-5,770	-2,193	-13,229	-3,996	2,402	5,600	3,880	1,011	-1,612	3,058	1,500	458	-1,939	6,006	2,393	1,518	3,015	7,327	9,597	6,706	11,390	16,853	9,857
Other (expense) income:
Interest expense, net
-	-	-	-444	-	-	-	-474	-500	-431	-	-559	-712	-749	-	-802	-797	-817	-	-484	-481	-499	-	-494	-491	-	-	61	72	-	-	-	-	-	-	-	-	-	-
Interest income
347	336	-	-	392	403	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-132	-	-	-	47	93	63	58	92	59	56	55	88	77
Interest expense
3	0	-	-	808	814	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings of unconsolidated affiliate
-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings of unconsolidated affiliate
0	102	101	100	101	97	96	96	96	97	115	116	125	128	52	51	104	135	134	139	136	118	128	135	127	81	0	0	0	0	-	-	-	-	-	-	-	-	-
Other (expense) income, net
-507	178	346	465	721	-65	443	307	354	-26	378	277	315	120	-504	77	124	254	-159	54	133	112	-9	193	105	274	194	97	245	119	173	6	213	153	-54	90	125	130	105
Total other (expense) income, net
-163	514	-11	121	406	-379	59	-71	-50	-360	32	-166	-272	-501	-1,232	-674	-569	-428	-686	-291	-212	-269	-388	-166	-259	223	248	158	317	166	262	69	271	245	-1	146	180	218	182
(Loss) income before income taxes
-662	-	-	-	-5,174	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss before income taxes
-	4,768	-	-334	-	-7,584	-10,992	-11,871	-8,870	-3,964	-1,082	-2,950	415	886	-6,442	-6,124	-6,339	-2,621	-13,915	-4,287	2,190	5,331	3,492	845	-1,871	3,281	1,748	616	-1,622	6,172	2,655	1,587	3,286	7,572	9,596	6,852	11,570	17,071	10,039
Income tax benefit (expense)
-10,800	84	-61	31	100	133	9	-158	-37	-2,829	-325	967	2,145	2,610	2,503	-1,055	25,663	-941	-4,092	-1,312	1,635	2,237	1,908	479	-251	1,574	785	320	-702	2,610	964	574	1,354	3,093	3,986	2,816	4,575	6,815	3,753
Net income (loss)
10,142	4,684	5,477	-365	-5,263	-7,717	-11,001	-11,713	-8,833	-1,135	-757	-3,917	-1,730	-1,724	-8,945	-5,069	-32,002	-1,680	-9,823	-2,975	555	3,094	1,584	366	-1,620	1,707	963	296	-920	3,562	1,691	1,013	1,932	4,479	5,610	4,036	6,995	10,256	6,286
Preferred stock dividends
1,309	1,323	1,323	1,309	1,295	1,323	1,323	1,309	1,295	1,323	1,323	1,309	1,295	1,323	1,323	101	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) available for distribution
8,833	3,361	4,154	-1,674	-6,558	-9,040	-12,324	-13,022	-10,128	-2,458	-2,080	-5,226	-3,025	-3,047	-10,268	-5,170	-32,002	-1,680	-	-2,975	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity interest in investee's unrealized gains on hedging derivatives, net of taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6	11	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	561	3,105	-	366	-1,620	1,707	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per share (See Note 16):
Net income (loss) per share - basic (in dollars per share)
0.18	0.07	0.17	-0.07	-0.26	-0.36	-0.49	-0.52	-0.40	-0.10	-0.09	-0.21	-0.12	-0.12	-0.42	-0.21	-1.32	-0.07	-0.40	-0.12	0.02	0.12	0.07	0.01	-0.07	0.07	0.05	0.01	-0.04	0.14	0.07	0.04	0.08	0.18	0.23	0.16	0.29	0.42	0.26
Net income (loss) per share - diluted (in dollars per share)
0.18	0.07	0.17	-0.07	-0.26	-0.36	-0.49	-0.52	-0.40	-0.10	-0.09	-0.21	-0.12	-0.12	-0.42	-0.21	-1.32	-0.07	-0.40	-0.12	0.02	0.12	0.07	0.01	-0.07	0.07	0.05	0.01	-0.04	0.14	0.07	0.04	0.08	0.18	0.23	0.16	0.28	0.42	0.25
Weighted average number of shares outstanding:
Basic (in shares)
28,379	25,663	25,521	25,498	25,412	25,321	25,209	25,186	25,057	25,008	24,809	24,748	24,666	24,625	24,403	24,345	24,270	24,234	24,136	24,138	24,463	24,827	24,636	24,618	24,661	24,645	24,483	24,420	24,396	24,761	24,765	24,694	24,692	24,693	24,598	24,462	24,366	24,282	24,146
Diluted (in shares)
49,665	47,059	25,521	25,498	25,412	25,321	25,209	25,186	25,057	25,008	24,809	24,748	24,666	24,625	24,403	24,345	24,270	24,234	23,949	24,138	24,551	24,926	25,262	24,918	24,661	24,839	25,026	24,580	24,396	24,814	25,266	24,835	24,845	24,802	24,942	24,765	24,668	24,585	24,730
Cash dividends declared per common share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.02	0.02	0.02	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	-	0.10	0.10	-	-	-	-	-	-
Special cash dividends declared per common share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.50