Company profile

Ticker
UTI
Exchange
Website
CEO
Jerome A. Grant
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
860226984

UTI stock data

(
)

Calendar

6 Dec 19
13 Dec 19
30 Sep 20

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 87.67M 79.04M 81.75M 83.05M
Net income 5.48M -365K -5.26M -7.72M
Diluted EPS 0.09 -0.07 -0.26 -0.36
Net profit margin 6.25% -0.46% -6.44% -9.29%
Operating income 5.44M -455K -5.58M -7.21M
Net change in cash 22.75M -10.24M -5.72M 545K
Cash on hand 65.44M 42.69M 52.93M 58.65M
Annual (USD) Sep 19 Sep 18 Sep 17 Sep 16
Revenue 331.5M 316.97M 324.26M 347.15M
Net income -7.87M -32.68M -8.13M -47.7M
Diluted EPS -0.52 -1.51 -0.54 -2.02
Net profit margin -2.37% -10.31% -2.51% -13.74%
Operating income -7.8M -35.28M -1.82M -18.62M
Net change in cash 7.34M 7.97M -68.91M 89.61M
Cash on hand 65.44M 58.1M 50.14M 119.05M

Financial data from company earnings reports

Financial report summary

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Risks
  • Failure of our schools to comply with the extensive regulatory requirements for school operations could result in financial requirements or penalties, restrictions on our operations and loss of external financial aid funding.
  • Compliance with the Title IV Program Integrity regulations, the defense to repayment regulations and other current and future regulations arising out of ongoing negotiated rulemaking could materially and adversely affect our business.
  • The loss of funds from Veterans' Benefits programs could materially and adversely affect our business.
  • Congress may change the law or reduce funding for or place restrictions on the use of funds received through Title IV Programs, which could reduce our student population, revenues and/or profit margin.
  • Continued Congressional examination of the for-profit education sector could result in legislation or further ED rulemaking restricting Title IV Program participation by for-profit schools in a manner that materially and adversely affects our business.
  • Changes in the composition of the executive branches of federal or state governments or of federal or state legislatures as a result of the outcome of elections or other events could result in further legislation, appropriations, regulations, and enforcement actions that could materially or adversely affect our business.
  • Our business could be harmed if we experience a disruption in our ability to process student loans under the Federal Direct Loan Program.
  • Government and regulatory agencies and third parties may conduct compliance reviews, bring claims or initiate litigation against us.
  • Our business and stock price could be adversely affected as a result of regulatory investigations of, or actions commenced against, us or other companies in our industry.
  • Changes in the state regulatory environment, state and agency budget constraints and increased regulatory requirements, may affect our ability to obtain and maintain necessary authorizations or approvals from those states to conduct or change our operations.
  • Budget constraints in states that provide state financial aid to our students could reduce the amount of such financial aid that is available to our students, which could reduce our student population and negatively affect our 90/10 Rule calculation and other compliance metrics.
  • If we acquire an institution that participates in Title IV Programs or open an additional location, one or more of our regulators could decline to approve the acquired institution and/or additional location, or could impose material conditions or restrictions, which could prevent or limit the ability of the acquired institution and/or additional location to participate in Title IV Programs and, in turn, impair our ability to operate the acquired institution and/or the additional location as planned or to realize the anticipated benefits from the acquisition of that institution and/or opening of the additional location.
  • If regulators do not approve or delay their approval of transactions involving a change of control of our company or any of our schools, our ability to participate in Title IV Programs may be impaired.
  • If we fail to improve our underutilized capacity, we may experience a deterioration of our profitability and operating margins.
  • Macroeconomic conditions and aversion to debt could adversely affect our business.
  • Competition could decrease our market share and create tuition pricing concerns.
  • Our financial performance depends in part on our ability to continue to develop awareness and acceptance of our programs among high school graduates, military personnel and adults seeking advanced training.
  • Failure on our part to maintain and expand existing industry relationships and develop new industry relationships with our industry customers could impair our ability to attract and retain students.
  • Our success depends in part on our ability to update and expand the content of existing programs and develop and integrate new programs in a cost-effective manner and on a timely basis.
  • Our proprietary loan program could have a negative effect on our results of operations.
  • We rely on third parties to originate, process and service loans under our proprietary loan program. If these companies fail or discontinue providing such services, our business could be harmed.
  • We are heavily dependent on the reliability and performance of an internally developed student management and reporting system, and any difficulties in maintaining this system may result in service interruptions, decreased customer service or increased expenditures.
  • System disruptions and security threats to our computer networks, including breach of the personal information we collect, could have a material adverse effect on our business and our reputation.
  • We may not be able to retain our key personnel or hire and retain the personnel we need to sustain and grow our business.
  • If we are unable to hire, retain and continue to develop and train our admissions representatives, the effectiveness of our student recruiting efforts would be adversely affected.
  • Failure on our part to effectively identify, establish and operate additional schools or campuses could reduce our ability to implement our growth strategy.
  • We may be unable to successfully complete or integrate future acquisitions.
  • We have goodwill, which may become impaired and subject to a write-down.
  • Our principal stockholder owns a significant percentage of our capital stock, is able to influence certain corporate matters and could in the future gain substantial control over our company.
  • Seasonal and other fluctuations in our results of operations could adversely affect the trading price of our common stock.
  • If we fail to maintain effective internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud. As a result, current and potential stockholders could lose confidence in our financial reporting, which would harm our business and the trading price of our stock.
Management Discussion
  • ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • You should read the following discussion together with the "Selected Financial Data" and the consolidated financial statements and the related notes included elsewhere in this Report on Form 10-K. This discussion contains forward-looking statements that are based on our current expectations, estimates and projections about our business and operations. Our actual results may differ materially from those currently anticipated and expressed in such forward-looking statements as a result of a number of factors, including those we discuss under “Risk Factors” and elsewhere in this Report on Form 10-K.
  • We are the leading provider of postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians as well as welders and CNC machining technicians as measured by total average full-time enrollment and graduates. We offer certificate, diploma or degree programs at 13 campuses across the United States. Additionally, we offer MSAT programs, including student-paid electives, at our campuses and manufacturer or dealer sponsored training at certain campuses and dedicated training centers. We have provided technical education for 54 years.
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