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Dec 31, 2020
UTI Q1 2021 Earnings Report
Reported financial results for the fiscal 2021 first quarter.
Key Takeaways
Universal Technical Institute reported a decrease in revenue by 12.7% to $76.1 million compared to the prior year quarter. Net income was $1.1 million, compared to $4.7 million. New student starts increased 20.9% from the prior year quarter.
New student starts increased 20.9% from the prior year quarter.
Average enrollments increased 1.8% during the quarter as compared to the prior year period.
First quarter revenue of $76.1 million decreased 12.7% compared to the prior year quarter.
Adjusted free cash flow of $5.8 million for the quarter, compared to $7.0 million in the prior year quarter.
UTI
UTI
Forward Guidance
The leading indicators for our business continue to show substantial and growing momentum, and at the same time we remain focused on driving increased efficiency within our operations.