Shares of for-profit education company Corinthian Colleges ( COCO) were moving lower Friday after it reconfirmed its second-quarter earnings guidance.

The operator of post-secondary education colleges said it continues to expect earnings of 18 cents to 21 cents a share for the three months ended Dec. 31, in line with consensus estimates reported by Thomson First Call.

In the year-ago period, Corinthian earned 24 cents a share.

Shares of Corinthian Colleges were recently down 63 cents, or 3.5%, to $17.35 on volume of 4.6 million shares, more than twice the stock's average volume for a trading session.

The company runs 91 colleges in 23 states in the U.S. and 35 colleges in seven provinces in Canada. It offers diploma programs and master's, bachelor's and associate's degrees in a variety of fields, with a concentration in health care, business, criminal justice and technology.