K12 Inc. (NYSE: LRN) announced today that it plans to host a conference call to discuss full fiscal year 2014 guidance at 4:30 p.m. Eastern Time (ET) on Thursday, October 10, 2013. The Company is reporting Q1 FY 2014 average student enrollments 1 Q1 average student enrollments are equal to the official count date number, which is the first Wednesday of October in a year. in managed public schools of 128,550, an increase of 5.7% over Q1 FY 2013, which is below management’s expectations. The Company expects full fiscal year revenues in the range of $905 million to $925 million and full year operating income in the range of $53 million to $57 million. Demand for our products and services remains strong, as evidenced by an 11% increase in enrollment applications as compared to last year. However, we believe the increase in Managed Public School enrollments fell short of internal expectations due to several factors, which include, among others:
- The Company’s inability to convert the increased volume of student applications into enrollments at a level achieved during previous years due to performance in its enrollment centers and, to a lesser extent;
- The delayed start of the open enrollment period for certain schools.