I balance call his comparisons you, the period, unless back note discuss for are stated. review and the our now closing otherwise all our then Andrew. Andrew remarks. first Please discuss quarter comparative versus prior to outlook and will handing that Thank sheet before results XXXX I year
about reminder quick a begin, I comparability. year-over-year Before
exclude programs Financial development that and by our non-degree-seeking reflect learners CTU X degree-seeking, Also, enrollment non-Title refer trends completed results System acquisitions of AIU self-paced that IV, to, that for discussed, any professional programs enrollment numbers in I and and the institutions in academic XXXX, the July participating at I universities. the total were in or December respectively.
overview that operating let us begin results. with our With of said, an
to $X.XX as year earnings quarter, the diluted above retention. quarter, and increase range of more share of total to our to to compared when diluted we the quarter. $XX.X high while student prior was underlying with excludes operating compared significant believe as income, the income due of $XX.X $X.XX This better-than-expected outlook of For operating to was of adjusted $XX.X operating for in which to $X.XX. for per indicative per was quarter the income primarily in operating million compared compared first result an income certain reflecting company XXXX, million million million. Net prior X.X% quarter came which share, $XX.X performance, year $XX.X our the X.X% equating is end and noncash million, the decreased Adjusted by items,
Moving more first results. on to the around some XXXX quarter details
part of of year the being Total not $XXX.X quarter, comparative as period. higher compared primarily the prior XXXX company X.X% the year to to was acquisitions revenue due million prior
flat. been total acquisitions, these Excluding would company revenue have relatively
quarter. total of XXXX, flat as to prior compared CTU X.X% relates was XX, at March enrollments increased as to it at year AIUS and student by our the As segments,
we impact at the comparability believe the and academic would calendar, total enrollments to the been reported CTU System. due Excluding AIU lower higher at have that
First our year underlying revenue $XX primarily was CTU areas. or to acquisition to operations. continue higher Operating student invest as well prior for in organic XXXX while our quarter to $XXX.X as other due million modest quarter, in million and the XX% we at academic support the $XX.X than quarter million as compared income increased to growth
due the quarter and to due $X.X Turning AIUS. increased $XX as during primarily quarter, to XXXX acquisition. Operating compared to primarily to Revenue the $XX.X other expenses lower million million for bad for the to million, the to quarter. increased X.X% income the debt
to Corporate on and Moving Other.
students. $XX.X information relating applications higher versus the year primarily refer disclosures to to million year forgiveness regarding the of quarter First the due operating Department borrower this the on that in legal fees increased former of to quarter, responses by was prior filed repayment earlier loan the Please Education associated for loss the this to defense XX-K matter. additional to was our with
Now to taxes. income
net in the tax state income provision corporate we million, net tax, an rate For effective resulting taxes effective incorporates rate The which the $XX.X first XX.X%. for and tax of accruals of for federal the for recorded decreased income quarter, rate compensation tax X.X%. discrete previously tax results, release was tax the of impacted also by the recorded effect by the items the of for effect quarter which and approximately of share-based
that we expect be our will XX% XXXX, tax the Finally, for and year effective rate full XX%. between
to balance the Moving sheet.
other equivalents, prior in from cash, available-for-sale million For flows the cash of These million modestly the note versus the $X.X with resulted $XX.X investments. quarterly includes higher quarter first first end of were cash the the $X.X to quarter typically outflows X% first be the year-end was Capital and in cash as quarter, year expenditures compensation $XXX.X to balances cash restricted incentive quarter operations related annual net approximately only to We million short-term ended revenue. compared or Please for items cash XXXX. quarter. that items. million and
of expenditures and be XXXX, we between foresee to year full capital X% For X% revenues.
XXXX. our to updated outlook Finally, for
range $XXX range adjusted to earnings diluted $XXX of loan million. XXXX. initiatives income student to to million This operating the have as $XXX between share of in our full the partly reflects Further, outlook compared adjusted and beliefs the retention, We that lower versus range per from current by raised million impact $X.XX and million expected to is student improvements administration, XXXX. previously various provided end $X.XX persist year positive implemented $XXX $X.XX will through in our supported between to current by the continue
underlying expected retention acquisitions the and year calendar the well and from to redesign CTU as in modestly be recent organic benefits reflecting XXXX, is improvement revenue than at higher academic student engagement. as Full
to year-end calendar CTU primarily as at at are enrollments total operational expected be to to lower compared well XXXX the end redesign However, of reported as AIUS. due the at as changes academic XXXX,
As the of go disclosed of gone this negotiated topics, year. surrounding XX-K Education various into through and some in processes additional our is on going Department effect rulemaking through X which of February, in Form July filed has
or have rulemaking department. above. our to final ensure could undertaken Any anticipated rules guidance an the these and by compliance operational monitor presented We new any from evaluate continue related outlook on and initiatives the with impact changes academic coming to institutions
range quarter and our XXXX. per prior diluted compared diluted positive expect versus from second in in between we $XX the $X.XX to that of incorporates year of outlook comparability income $X.XX range as million calendar academic Please second a adjusted to to $X.XX million For share in -- the quarter share the per to with the at million quarter adjusted in note quarter, XXXX, the prior CTU. operating second the earnings be of $XX impact $XX.X
in been processes. academics outlook outcomes We support and also experiences. these investments Our believe student investments positively in student analytics, XXXX technology, have and data academic ongoing successful impacting assumes
academic increase recent as will investments the CTU the selective within of in partnership make at also further integrate our continue and they We to team institutions. our corporate size acquisitions
and to to capital our are like commenting evaluate expectations maintaining on well today's We'll sheet and to to particular, XXXX and continue remain information while We you non-GAAP strategies for in investing factors a our organic share designed to initiatives, on liquidity students. underlying assumptions other as projects, diverse in would about ask key our conclude stockholder balanced as to our approach which filed strong to enhance balance GAAP today allocation. by call including I technology-related We the reconciliations. also adequate benefit focused important and value, repurchases. acquisitions on discussed the outlook to earnings release refer
the his Andrew? call With that, to turn will for Andrew back I over closing remarks.
