XXXX you, call, for fourth with of I back the our to and the remarks. quarter will handing Todd and discuss then full review sheet Thank before closing outlook year Todd. balance his and start results, a
unless periods I year comparative otherwise comparisons are the stated. all that note prior Please versus discuss,
we longer responsible segment, all As XXXX, campuses segment. is a Xst no the which of Thus, outs. reminder, completion Jan changed presentation schools included teach our operating of these segment our an effective other the after
the result, have maintain these residual compatibility. been to within and close category. corporate recast a now have As other included been losses campuses, associated Prior with periods
excludes which the items, of an as million. million, significant of Now noncash $XX.X our quick is believe XX.X% $XXX reflecting to operating increased more adjusted the income operating XXXX, full an range outlook reflective overview million increase income, $XX.X compared of operating and at approximately results, of of our for latest versus came This income million company certain year performance. a to in measure exceeding total underlying $XXX.X operating to for and We the year, prior. the $XXX million,
was earnings per million the again, $XX we is XX.X% or share, diluted underlying Net year performance, for indicative to $X.XX which the while per share, of up income $X.XX. more adjusted diluted operating was believe
Overall, income million serving our was per students on we positive progress was adjusted program of student Adjusted and for diluted of $X.XX. enrollment across $XX continue that effectiveness good their versus supported retention fourth to $XX.X of processes, reflect operating operating a a million, quarter as the earnings operating with and per note, $XX.X efficiency student and current These $X.XX, share enrollment new quarter through earnings and results growth diluted million year study. the share income the versus ended $X.XX. and
the term results, quarter expected outlook. serving also contributed and insurance interest XXXX expenses of year, results in employee non-students student functions, reflect as as academic than for prospective better which the fourth Our other to related the well lower our expected programs exceeding than final
a I the go into for the XXXX. details, Before year comment on items quick segment full the adjusting
to related the legal recorded relating pleased to we FTC a Oregon. to resolved of settlement We're year, $XX individual significant charge resolution a the settlement $X.X and million the inquiry the the in charge matters. of our claims arbitration million have During outstanding
locations related Another $X.X vacated campuses. is adjusting closed lease our item million the of to for expenses
as both Excluding and will well FTC the with as associated on to these campuses. were, by AG as investments additional the in offsetting Partially positives efforts losses monitoring color operating at bad agreements, shortly. was driven and compliance these closed reduced as performance growth improvement with the in associated related well primarily costs our the provide expense, revenue debt more increased universities, items, that marketing, multi-state I
around from details Both quarter prospective more some being retention prior the million, at the growth with as the Also for versus to XXXX universities revenue the as are was up revenue year X.X% on financials, and primarily $XXX.X was X% interest, our of more Moving teams, to full-year which advising by revenue students' days million X.X% fourth Total revenue driven year $XXX.X increased by contributed and consistent company trends. levels well improving admissions positively well served student revenue AIU. earning impacting quarter.
X.X% relates $XXX.X CTU million up to revenue fourth by trends, at also to million. $XXX.X our segments, it year, positive to quarter As for was the drove enrollment X.X% revenue up supported which CTUs
$XX.X the income Full million $X operating FTC includes of $XXX.X prior the recorded CTU. but was charge portion or settlement within year below year, of an million X.X% million for
million, or XX% Excluding operating this charge approximately improved by income $XX.X
offsetting higher, with marketing across student various and expenses, serving driven growth, processes. slightly debt while increased primarily revenue bad were expenses efficiencies operating by
to Revenue million driven days $XX.X the positive was more portion million income the X.X% FTC as for compared for settlement recorded by Turning within but to Full the prior above primarily includes year, million an of AIU. enrollment year. the XX.X% well to $XX.X $X.X revenue million AIU. year year, trends, $XXX.X operating of as prior increased charge earning
being improved expenses. by bad primarily Excluding operating was revenue leverage decent, driven the this revenue income partially Operating debt by $XX.X growth charge, marketing approximately increased and with with offset million, growth.
be quarterly in impacted some quarter increasing sequentially with briefly expense that to fourth by over this in can factors impacted bad expense. third given me the variability relate bad that Recall, bad expense. the third in negatively positively that Let debt associated Quarterly on quarter, variability, quarter. impacted resulting quarter, debt expense touch the but of is debt any bad debt the
cash factors requirements AIU a are impact timing Department aid including variability, disproportionately given account There complex increasingly of bad several these in debt financial collections, academic quarterly to calendar, of quarter. and impacting bad student can few. the Collectively, Education balances, any factors name debt
However, bad of rate expense on even first-half XXXX, to prior periods, the processes as the improving increase for the compared improved the as second-half as our the students. in debt as of we during financial focus compared of quarter, further compared though aid quarter to fourth continue the XXXX, prior retention, to and year increased to
better our start that so counseling on through Our financial aid student collection, support prepared IV their increased the to documentation school. teams Title focus have students process, and they are
programs with employer pay and We direct debt such other have are corporate emphasizing lower education partnerships. also associated programs, focused our pay on as typically Note, them. that bad these
as few let Now year, spend X.X% retention by the the as for student discussing new well of supported enrollments enrollment me enrollments. second-half by in year. Total student the grew a primarily improving trends growth, CTU minutes at
X.X% for quarter. New student the and for enrollment X% full the increased year growth fourth
we're and program. trends student the partnership Todd continued interest our as experiencing, As support believe progress student prospective to enrollment reflect effectively our outlined, as serve within these functions, enrollment corporate we investments positive are the allowing us which the across well
for the trends, these planned the enrollments first at by grow XX.X% for and new quarter. further the for by the supported supported year XXXX. enrollments we full quarter the XXXX, full and was Total which fourth for year year, and in XX.X% AIU XX.X% growth, Driven by to enrollment increased new expect CTU for student for investments
reflect growth. earlier, quarter, new enrollment to was positively discussed organic the that enrollments academic fourth pursuant the fourth prior days full the initiatives number the enrollment year for were In AIU's note, the results, by year, most calendar. in addition of to X.X% and quarter relatively part impacted days But more to year comparable enrollment student quarter the the new for
Recall, of on period that period. calendar the at given enrollment any specifically, that academic days new for number has a in significant AIU, enrollments impact the the student
and various enrollment we this operating Excluding comparable, by the organic the growth, evidenced supported discussed. variability, Todd initiatives investment believe by of experiencing days number AIU where and been second-half as enrollments has enrollment is was
and to of days AIU to expect is enrollment academic we with to each enrollment XXXX, for AIU's the a calendar ahead revenue number basis, growth relatively year full XXXX. XXXX, comparable a and year for year, experience Looking consistent on
will will as as quarter such the quarter days, enrollment XX% periods approximately while relates quarterly of variability, have enrolment second it XXXX. to compared there have to XXXX, days, especially days, However, be first XX% approximately enrollment will more the less the quarterly respective that in
result, second growth first a more we than in new decline but As expect to be by enrollments AIU's this decline the the quarter. will in offset quarter,
third compared respective for as of the quarter. year fourth to comparable For and the XXXX, expect days the quarter, to quarters we prior each enrollment be
this update category to both on operating the completion outs. other, teach includes associated losses quick corporate due with of now our campuses and A residual
operating year multi-state to costs losses $X.X awards achieved, the the expenses million. higher, $X the losses quarter, fourth were relating compliance associated associated stock FTC Excluding losses to with for certain operating approximately that the to and reduce performance previously closed were were for during million not with AG note, $X.X based the closed and of which, that Also due campuses, estimated and expenses. monitoring campuses for your recoveries conditions fourth primarily recognition with operating associated stock prior agreements likely of the compensation the the million quarter, performance be
million. XX.X% the settlement, for fourth provision year-to-date Now was million full for $XX criteria to the adjust quarter. tax in rate FTC which the to year due lowered deductibility million the previously tax the $XX tax XX% tax meeting impacted of rate we quarters' rate The recorded provision, additional taxes, an for income fourth of in quarter, period. tax income for This positively an the the approximately effective $X.X to recorded by resulted tax of
million quarter, satisfies criteria the $XX $XX.X recorded tax second FTC the the change, settlement million deductibility. for this of With in
in rate X.X% note, a stock tax of settlement effective $XX.X million, based tax compensation. rate XX.X%. income year, impacted XXXX, effect to tax the of the positively resulting amended year filings For we the full of state and state of tax recorded a approximately return provision was an for that the tax full related by Please our audit,
between For to be XXXX, of and compensation. tax benefit our assume rate which the stock not effect from XX.X% we expect material based tax XX.X%, any does
million with loss are operating of Importantly, which XXXX $XXX.X offset we net approximately to carry available ended federal future taxable incomes. forward,
to income result, a relates pay any it specifically, expect as we not taxes. As do to XXXX, federal
ended reviewing short-term minutes losses This sale for We a closed XXXX, associated few a an the million cash cash by with cash, driven increase and operating over our campuses. from reduced spend me investments. yearend and let operations, $XXX.X of our available of equivalents balance sheet. Now, primarily our positive million represents and with quarter was university $XX flows
offset Net year, for year provided was cash flow prior legal I mentioned, for for multi-state factors matters. the by partially General settlement the the to the was operations cash compared and The driven as cash just year. $XX FTC $XX cash Attorney the related the to the payments of with $XX.X of current million outflows million provided by primarily million
approximately were expenditures $X.X in as the compared the prior year, to year. million million Capital $X.X for
XXXX, foresee capital For to the we expenditures full year revenues. X% be approximately of
pending early the XXXX, smooth students towards A noted, diligently for as a expect we employees. incoming quick close on March in note and are the to acquisition integration of already Todd Trident and University, acquisition the working
We expect earnings. to to be the our transaction accretive XXXX
range result, million approximately the at employee now to end our continues of a we $XX certain of reimbursements previously along million. expenses $XX Trident's purchase a operating be the cash pay as million, and related with $X to of high to expect price strong, provided performance of
for at among outlook outlook things, company's the new in year and growth XXXX. full the both universities reflects Finally, student let growth total discuss for enrollments year the of us This full other XXXX. expectation the organic
for following. of full outlook Our consists year the the
the total adjusted is experiences, A excludes note, improve This $XXX compared growth. operating further our objective outcomes. acquisition. and to million consistent million in responsible $XXX outlook impact with contemplates Please retention outlook million to student overall sustainable this income, that as academic investments and of $XXX.X company This to Trident XXXX. in of
share, Adjusted is range $X.XX $X.XX in and XXXX. versus $X.XX per per share diluted earnings to between forecasted
our As CTU. student to first in XXXX quarter relates quarter it first company's the of expectation outlook, outlook reflects first our quarter at growth enrollments new
compared for enrollment periods However, the approximately have XXXX. in quarter the less than days to will more while quarter will days, first of second as enrollment XX% have AIU approximately quarterly the XX% respective XXXX,
enrollments in will more As offset decline in we the by first but than this to the second decline a quarter. result, new expect AIUs be growth quarter,
quarter For the as to respective second-half the XXXX, to be quarter. each we the enrollment expect days prior year of comparable for compared
expect expectations quarter million on $X.XX about our of the and the to operating $X.XX. for this the diluted to to adjusted Please to first the in $XX to income million be discussed We non-GAAP and information as the of $XX.X call, as of range earnings release today earnings and GAAP adjusted in important factors share range to be per for assumptions filed well refer reconciliations. today's underlying key outlook, XXXX, other
including projects, Lastly, and on we acquisitions will evaluating institutions. maintaining quality maintain while value, educational resources initiatives, a and that our way our of capital a shareholder growth drives in while as balance to diverse such in of continue strong a deploy adequate the and progress. learning to enhancing organic value goal that strategies value, allocation and enhance long-term prudently balanced strategy, students academic is supporting shareholder focuses institutions sheet to repurchases share Ultimately, investing liquidity, and
the I that, With remarks. to Todd closing his over call for turn back Todd? will
