Post-secondary education company
said it expects its first-quarter profit to be lower by $6 million compared with the year-ago period and added it may not be able to file the 10-Q for its first quarter by the required date of Nov. 9.
The decrease in first-quarter profit is primarily due to lower revenue, increased travel and related expenses associated with training and implementation for a new admissions process, and outside professional fees of about $1.8 million. Revenue declined due primarily to the divestiture of
Corporate Education Services
in October 2005.
The Santa Ana, Calif.-based company said it plans to file its first-quarter 10-Q as soon as practicable, although it cannot assure that it will be able to file its Form 10-Q on time.
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