Universal Technical Institute, Inc. (UTI: 23.76 -0.13 -0.54%) is soaring after a record quarter. Shares continue to set new 52-week highs and estimates are climbing.
Record-Setting Quarter
On Feb 2 Universal Tech announced quarterly earnings that showed the highest enrolment, revenue and earnings in the company’s history. Revenue came in at $1.4 million, up 15% year-over-year.
The end result was net income of $9.3 million, about 4 times the same period last year. Universal Tech earned 38 cents per share, well above the 25 cents analysts were expecting.
Estimates Rising
Universal Tech analysts quickly raised full-year projections following the news. The full-year Zacks Consensus estimate for fiscal 2010 is now $1.13, up from 89 cents. Estimates for the next year are coming it an average of $1.46, up from $1.22.
Currently these estimates are projecting growth rates of 134% and 30%, respectively.
The Chart
Following the earnings news, shares of UTI shot right through the 52-week high, despite the weight of the overall market. Take a look at the chart below.
Read the December 8th Feature Here
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