Bridgepoint Education, a San Diego-based provider of post-secondary education services, on Tuesday reported a loss in the fourth quarter of 2013 and lower revenue and income for the entire year.
The company has faced declining enrollment at its for-profit colleges, and announced staff layoffs in January.
The operating loss for the fourth quarter of 2013 was $11.9 million compared with operating income of $28.9 million for the same period in 2012. Operating income for the full year was $60.4 million, down from $195.5 million in 2012.
Revenue for the fourth quarter of 2013 was $163.5 million, compared with revenue of $209.4 million for the fourth quarter of 2012. Revenue for all of 2013 was $768.6 million, down from $968.2 million in 2012.
Total student enrollment at the company’s academic institutions, Ashford University and University of the Rockies, was 63,624 at December 31, compared with 81,810 students at the end of the fourth quarter of 2012.
“Throughout 2013, our institutions focused on delivering a relevant and high-quality education to their students,” said Andrew Clark, CEO of the company.
— From a press release by Bridgepoint Education
