During the second quarter of 2013, the Company made operating cost reductions consisting of both labor and other expense savings across both Bridgepoint and its institutions to better align with reduced total enrollment. "We have determined that we can make meaningful cost adjustments in areas that will not sacrifice the commitments and investments we made to improve student learning, success and outcomes," said Clark. "When fully implemented we anticipate that the annualized labor and operational cost savings from these changes will be approximately $85 million dollars."For the second quarter of 2013, the Company expects total ending enrollments for the quarter of between 71,000 and 72,000. Revenue for the quarter is expected to be between $195.5 million and $199.5 million dollars, and second quarter earnings per diluted share is expected to be between $0.16 and $0.20. The earnings for the second quarter include a charge of $6.2 million related to severance from the recent reduction in force. All of these estimates are preliminary and subject to final review. Bridgepoint Education will report its final second quarter 2013 results on August 6, 2013.
Bridgepoint Education Applauds Ashford University On Its Accreditation Approval By The Western Association Of Schools And Colleges
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