New student starts were up 11.2 percent for the fiscal second quarter and 12.7 percent year to date.
Universal Technical Institute, Inc. (NYSE: UTI) reported revenues increased 1.3 percent to $81.7 million, driven by higher average full-time enrollment in its fiscal 2019 second quarter ended March 31. The increase occurred despite one less earning day compared to the prior year period.
Operating expenses for the quarter decreased by 2.4 percent to $87.3 million, primarily due to lower compensation and related costs and contract and professional services expense. This decline was partially offset by $1.25 million in one-time costs related to