Universal Technical Institute (UTI $12.78 +0.62) reported fourth quarter earnings of $0.24 per share, $0.05 worse than the Capital IQ Consensus of $0.29, while revenues fell 6.5% year/year to $111.4 million versus the $111.48 million consensus.
The decrease in revenues primarily relates to a decrease in average undergraduate full-time student enrollment of 11.0 percent partially offset by an increase in tuition rates.
Outlook: "We expect the rate of decline experienced in 2011 in both applications and new student starts to slow in the first half of the year before potentially improving in the second half of the year.."






