Zovio Inc (NASDAQ:ZVO) changed 3.60% to recent value of $4.03. The stock transacted 59214 shares during most recent day however it has an average volume of 147.68K shares. It spotted trading -37.33% off 52-week high price. On the other end, the stock has been noted 26.13% away from the low price over the last 52-weeks.
On Aug. 7, 2019, Zovio Inc (NASDAQ:ZVO), an education technology services company, disclosed its results for the three and six months ended June 30, 2019.
During the second quarter, we further executed on our strategy to establish Zovio as a leading education technology services company. Importantly, in July, we received approval for Ashford University to return to an independent, non-profit institution, which represented an inflection point in the separation and transformation of Ashford and Zovio. In addition, we saw the expansion of key partnerships with recently acquired Fullstack and TutorMe, as well as the benefit of our investments, both of which are laying the foundation for Zovio’s education technology ecosystem. At the same time, we continue to focus on establishing a strong foundation for Ashford as an independent, self-sustaining nonprofit delivering strong academic outcomes, commented Andrew Clark, Founder, President and CEO of Zovio. We believe through the execution of our strategic priorities we will create long-term growth and meaningful value for all our stakeholders.
Financial Results for the Three Months Ended June 30, 2019
Revenue for the three months ended June 30, 2019 was $107.5 million, compared with revenue of $119.0 million for the three months ended June 30, 2018.
Operating loss for the three months ended June 30, 2019 was $20.3 million, compared with operating income of $9.3 million for the three months ended June 30, 2018.
Net loss for the three months ended June 30, 2019 was $17.6 million, compared with net income of $15.1 million for the three months ended June 30, 2018.
Diluted loss per share for the three months ended June 30, 2019 was $0.58, compared with diluted income per share of $0.55 for the three months ended June 30, 2018.
The Company recognized an income tax benefit of approximately $2.4 million for the three months ended June 30, 2019, compared with an income tax benefit of $5.5 million for the three months ended June 30, 2018.
ZVO has a gross margin of 51.20%.Its earnings per share (EPS) expected to touch remained -74.70% for this year while earning per share for the next 5-years is expected to reach at 15.00%.
The company has 30.13M of outstanding shares and 28.19M shares were floated in the market. According to the most recent quarter its current ratio was 1.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of 4.30% from the mean of 20 days, 6.84% from mean of 50 days SMA and performed -8.77% from mean of 200 days price. Company’s performance for the week was 5.77%, 12.26% for month and YTD performance remained -35.93%.
Jason Patton joined us, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Jason is the Senior Editor of market Technology section. He also holds an MBA degree specialization in finance. He has two daughter and two children.
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