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Financial News: KROTON: Net Income Grows 0.2% In 4Q17, Beats

KROTON: Net Income Grows 0.2% In 4Q17, Beats Market Estimates

03/19/2018 - 12:43:00 (RTTNews)

(RTTNews) - The Brazilian education group Kroton Educacional net income rose 0.2% in the fourth quarter of 2017 from a year before, to R$ 488.6 million (US$ 148.71 million), beating market estimates of a R$ 471 million net profit.

Net revenue for the period, however, fell 0.9%. to R$ 1.35 billion, missing analysts estimates of R$ 1.385 billion.

Kroton's EBITDA increased 1% year-on-year to R$ 534.1 million, also below expectations of R$ 543.8 million.

Kroton Educacional had 876,140 students at the end of the fourth quarter, considering all undergraduate and graduate students in face-to-face teaching, a 3.6% reduction compared to the same period in 2016. The drop in total student base resulted from the sale of Fair and FAC/Famat units, the company said.

At graduation, the number of students fell 4.1%, to 841,264, while in the post-graduation there was a 9.8% increase, to 34,876 students.

In the Distance Learning (EAD) mode, Kroton recorded a 0.6% annual increase in the quarter, to 493,101 students - 465,851 in undergraduate and 25,250 in graduate studies. In the EAD graduation, there was a 0.2% increase, while in the post-graduation there was a 7.8% rise in the student base in the yearly comparison.

School dropouts fell by 8.5% in the quarter compared to a year earlier, while EAD evasion recorded a 0.6% increase in the annual comparison. In the total student base, dropout fell 3.6% on the same comparison basis.

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