Universal Technical Institute, Inc. (NYSE: UTI) reported financial results for the fiscal 2018 second quarter ended March 31, 2018.
Revenues for the quarter were $80.7 million, compared to $82.5 million for the prior year period. The year-over-year revenue variance was primarily attributable to a 4.4 percent decrease in UTI’s average student population.
Operating expenses for the quarter were $89.5 million, compared to $81.8 million for the prior year period. The increase was primarily attributable to planned increases in compensation costs, which were largely a result of our graduate-based compensation program for our admissions representatives, contract services, and advertising expense; these
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