Company profile

Ticker
UTI
Exchange
CEO
Kimberly J. McWaters
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
860226984

UTI stock data

(
)

Calendar

9 Aug 19
22 Aug 19
30 Sep 19

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 79.04M 81.75M 83.05M 80.26M
Net income -365K -5.26M -7.72M -11M
Diluted EPS -0.07 -0.26 -0.36 -0.49
Net profit margin -0.46% -6.44% -9.29% -13.71%
Operating income -455K -5.58M -7.21M -11.05M
Net change in cash -10.24M -5.72M 545K 2.14M
Cash on hand 42.69M 52.93M 58.65M 58.1M
Annual (USD) Sep 18 Sep 17 Sep 16 Sep 15
Revenue 316.97M 324.26M 347.15M 362.67M
Net income -32.68M -8.13M -47.7M -9.15M
Diluted EPS -1.51 -0.54 -2.02 -0.38
Net profit margin -10.31% -2.51% -13.74% -2.52%
Operating income -35.28M -1.82M -18.62M -9.22M
Net change in cash 7.97M -68.91M 89.61M -9.55M
Cash on hand 58.1M 50.14M 119.05M 29.44M

Financial data from company earnings reports

Financial report summary

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Management Discussion
  • Higher student population levels and an increase in new student starts resulted in an increase of 1.8% in our average undergraduate full-time enrollment to 10,562 students for the nine months ended June 30, 2019. We started 5,215 students during the nine months ended June 30, 2019, which was an increase of 11.4% from the prior year comparable period. Excluding the impact of the Norwood, Massachusetts campus, we started 5,125 students during the nine months ended June 30, 2019, which was an increase of 13.0% from the prior year comparable period. The increase in starts was primarily the result of the transformation plan initiatives and continued execution of the metro campus strategy.
  • During 2018, we announced and began implementation of a multi-year transformation plan. This plan included a comprehensive evaluation of our business by a top-tier consulting firm, which identified opportunities for growth with select investments in marketing, admissions and student services. In addition to the transformation plan, we continue to focus on existing key strategies, including:
  • On February 18, 2019, we announced that our campus in Norwood, Massachusetts is no longer accepting new student applications and its last group of students started on March 18, 2019. The decision to exit the Norwood, Massachusetts campus in the fall of 2020 is part of our previously communicated strategy to move from large destination campuses to smaller campuses in markets with higher student density and industry demand. Students will have the opportunity to complete their training programs and graduate with the skills needed to work as automotive and diesel technicians. We remain committed to providing Norwood students with employment assistance and other student support services while attending school and following graduation. Students were given the option of attending another UTI campus, receiving relocation support or having their enrollment fees refunded. We will also support impacted employees through this transition, with severance packages including benefits and the potential to transfer to another UTI location in the future. See Note 5 of the notes to our condensed consolidated financial statements within this Report on Form 10-Q for further discussion of postemployment benefits.
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