Universal Technical Institute, Inc. (NYSE: UTI) reported revenue increased 5.5% to $79.0 million for the fiscal 2019 third quarter ended June 30 compared to $74.9 million in 2018. According to the training provider, the increase was driven by higher average full-time enrollment.
New student starts, excluding the Norwood, Mass. campus that will close in 2020 and stopped accepting new students this spring, were up 11.9%; new student starts, including the Norwood campus, were up 8.7%.
Operating expenses for the quarter decreased by 8.3% to $79.5 million compared to $86.7 million, primarily due to lower contract and professional services expense