non-Title on trends that factors. which acquisitions let completed discuss including July was professional remind and overview our in self-paced the his offerings versus otherwise year-over-year recent or With Thank results X, like handing and I and system development continuing refer education results. note to Andrew. the discuss that and the capital call stated. that any Also, have you all the to, XXXX, exclude XXXX. that of IV our Andrew in for to at of learners results that universities. we year degree-seeking us program enrollment comparative enrollment an third outlook I our third our unless since remarks. quarter numbers sheet, with the are XXXX total participating nondegree-seeking prior you, back begin I X financial and completed would the most period, comparability Financial acquisition, operating allocation I then said, CTU closing the discuss about also AIU balance before reflect comparisons for I will quarter and updated now review Please
improvements noncash as to operating quarter decreased Adjusted to which more believe of significant as certain the million we underlying efficiencies million, for compared $XX.X admissions. to excludes equating income third to Net million $XX.X items due result and in income, was an compared compared company performance, operating resulting student high retention, well million compared believe operating share higher to of which of the as our the earnings quarter. $XX.X engagement million and by provided $X.XX operating quarter to within $XX.X to is as marketing range to as Adjusted primarily realized operating indicative and underlying the performance, outlook end share, better-than-expected the quarter. per and income of diluted For the XXXX, diluted $X.XX. year of prior year as is reflective per was in to $X.XX the in income which operating more in quarter decreased total prior revenue This $X.XX exceeded million. compared $XX.X $XX.X we previously for the XX.X%
of in offset year in revenue of enrollments Now the factors XXXX full participating were driven $XXX.X acquisitions period. year to by was completed with especially associated quarter, revenue continued lower not the CTU. growth the number revenue. the partially and total Total in lower X.X% comparative corporate that and for the students at primarily prior partnership part than XXXX These AIU program, System at student were approximately million by quarter prior or
tuition are Let and me these partnership lower to awarded time that contributed develop total a university take costs, to high at to CTU. program on general, in minute grants in given corporate enrollment the spend revenue comment pursuant period. any resulting partnerships has tuition from their the offset growth the to In
academic students and debt and made a graduate with have the we higher to ultimately program. programs will these in student. further with value we experience make However, we higher are may lead believe no and in progress area, continue necessary support expand this retention, have lifetime to participating we per investments typically this pleased Overall, outcomes, better to
as student X.X% System third as As realizing to improved and rate well at X.X% year discussed, Total in students. as but XXXX, decline enrollment double-digit improved Also at prospective segments, the was benefits first of from AIU Growth intended we student change higher the end. primarily CTU through as students prior moderated CTU for compared process at now has engagement. enrollments our the September retention note starting engagement and driven fully retention from marketing System, are the experienced to half. previously the as of total total it annualized XX, quarter of our decline declined quarter, by and continuing during enrollments student to AIU changes at during in school the the the relates lower that were quarter have higher by
in the students the quarter than lower X.X% increasing or million quarter corporate $XX.X and was to of lag prior CTU current the due at in due total partnership percentage on impact an revenue quarter lower program Operating to Third the of year revenue participating total lower revenue, in line versus quarter operating previous the remained the enrollment was enrollments $X.X relatively trends. during optimized quarter the the million $XX.X decrease quarters. due prior in million while primarily to year income expenses with
as the Turning increase during Revenue of the the driven primarily $XX.X the quarter, prior million to current an compared for by was quarter, quarter. X.X% year AIU System. acquisition to
enrollments. debt improvements flat performance result well operating the operating as July been Excluding second retention second that Also, compared expense. of would to compared realize to the in as XXXX, total and to efficiencies quarter relatively to due admissions student $X.X of continue completed of strong marketing recent the third XX.X% in Operating now increased as improved half in and XXXX. income decrease revenue million please of quarter, to as half a revenue the in have note and engagement better-than-expected the be as acquisitions lower in year we the as prior expect bad we
Moving Corporate on Other. to and
students. associated losses XX-Q matter. for prior disclosures million to note legal fees, for regarding flat $XX.X quarter the additional those Please applications to periods Department Third relating losses to afternoon the Please responses the in that versus filed million our was of at repayment both quarter. include including $XX.X with former operating year on borrower defense the operating relatively loan remained this Education refer forgiveness this information to by in the
Moving income on to taxes.
impacted by tax provision third for effective allowance for by million operating the was income million, For recorded rate of in of losses, increase for tax net resulting the a rate valuation we quarter, select state effective quarter a related effective $X.X tax X.X%. which $X.X combined the tax an approximately quarter XX.X%. The rate increased to the
the expect we and our tax for that Finally, full XX.X% between rate XX.X%. effective will be XXXX, year
reminder, expect so a payments and moving tax we quarterly have to quarter As since XXXX each continue doing forward. been estimated making
Now to our balance sheet.
flows for note net Year-to-date, cash, we of operating Title provided compared outflows XXXX. as restricted As operating with Cash year-to-date. timing $XXX.X million current $XXX.X cash and million versus acquisitions operating and July, activities by related cash that current with cash $XXX.X year-to-date ended IV of $XXX.X the provided at of expenditures. million receipts September Please was in million prior capital was investments buybacks short-term equivalents, the cash impacted available-for-sale partially XX, cash the completed in to for the year-end the offset to by cash share activities negatively year.
$X.X Speaking approximately or was of expenditures, capital of for the X.X% revenue. quarter, CapEx third million
the capital of be we our continue upgrade. expenditures X% For year we full as in XXXX, revenues foresee technology to infrastructure approximately invest to
outlook. our to Finally,
As previously in third academic and was performance recent quarter experienced operating retention our engagement institutions in than our months, improvements better and have expected. discussed, of both student
income expect now we to $X.XX is previously to and operating to of previously diluted be $X.XX as million the per range $X.XX of expected Adjusted result, million the between between range $XXX to per now $XXX $X.XX. earnings to provided a $XXX year full $XXX compared diluted share XXXX adjusted share compared to million provided as range As to million.
XXXX. $XX.X diluted relates per $XX.X it $X.XX fourth $X.XX prior share million to expect of and to $XX fourth to quarter with $X.XX versus earnings adjusted to income quarter per range we year between to adjusted the million between share as be for the in quarter, operating in fourth compared the diluted As quarter, million the
Lastly, today negotiated Education going of and the filed XXXX, in rule-making Form XX-Q filed Department in February our the as disclosed various stages surrounding XX-K through of variety a is of topics.
investments activities, balanced on by in including is to that to rule-making intended to effect value into continue student our while enhance that conclude year. these monitor shareholder appropriate I levels would to maintaining institutions. rules go next announced approach academic capital commenting like recently allocation We our of
diverse With repurchases. approximately an We strong stockholder sheet while the XXXX share. initiatives, per for continue strategies for our to adequate liquidity million projects, and X.X are enhance months $XX.XX to $XX.X share price in in and average designed to focus evaluating balance investing including on maintaining X students repurchases, shares value, and respect particular, organic acquisitions to of at a benefit million share which we of repurchased first technology-related
XX, September acquisition when educational was repurchase breadth are market intent our of still opportunities our program appropriate. and continue As to million program. XXXX, It stock with continue authorized is under that and acquisitions, the And under approximately depth explore repurchasing respect conditions to of extend other to our available our further $XX.X we offerings. shares
for closing Finally, to we assumptions turn the will the XXXX ask and release his reconciliations. you expectations today's earnings back about discussed information Andrew? call that, the GAAP for refer our outlook well other as today that over and Andrew call filed key remarks. I our on factors With as to underlying non-GAAP to important
