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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA 29-percent increase in student enrollment helped ITT Educational Services Inc. grow its fourth-quarter revenue to $279.8 million, up from $230.4 million the same period the prior year.
The Carmel-based technical school operator released financial results for the period ending Dec. 31 this morning.
ITT posted a $63 million profit for the quarter, up 30 percent from the year before. Full-year results were even better, with profit increasing nearly 34 percent to $203 million on revenue of $1.1 billion.
For the year, earnings per share amounted to $5.17. CEO Kevin Modany praised faculty and staff for the results, but predicted an even better 2009. ITT’s internal goal for the year: Increasing earnings per share to $6.25-$6.45.
“As we entered 2009, demand for our programs of study remained incredibly strong,” he said in a prepared statement, citing the value of the schools’ programs to students looking for an edge in the difficult economy.
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