Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener. On March 5, 2009, Lincoln Educational Services ( LINC) reported that its Q4 FY08 earnings surged 32.7% on higher revenue. Net income for the latest fourth quarter rose to $12.76 million or $0.49 per share from $9.62 million or $0.37 per share in Q4 FY07. The latest quarterly earnings beat the most recent consensus estimate of $0.44 per share. Revenue increased 18.9% to $107.32 million from $90.29 million, driven by an increase in average student population. New student enrollments grew 17.1% to 5,200 from 4,440, while average student population increased 16.7% to 22,361 students from 19,167 students a year ago. At the end of the quarter, the company had a total student population of 21,667 students, up 20.3% from 18,013 students in the prior year's quarter. Net income more than doubled to $20.20 million or $0.78 per share from $8.34 million or $0.32 per share, as the prior year's quarter included $5.49 million or $0.21 per share loss from discontinued operations. Annual revenue rose 15.0% to $376.91 million from $327.77 million a year earlier. During the quarter under review, Lincoln Educational acquired Briarwood College for approximately $11.40 million in cash. The company also completed the acquisition of Baran Institute of Technology for approximately $25.30 million in cash. Recently, Shaun E. McAlmont has been appointed as President and Chief Executive Officer. LINC also announced a public offering of 5.50 million shares at a price of $14.00 per share. Looking forward to Q1 FY09, Lincoln Educational Services expects EPS to be in the range of $0.05 to $0.07 on revenue of $112.00 million to $114.00 million. For FY09, the company expects earnings per share in the range of $0.90 to $0.95 and revenue between $476.00 million to $486.00 million.