Universal Technical Institute, Inc. (NYSE:UTI) reported financial results for the fiscal 2019 fourth quarter and full year ended September 30, 2019.
Fourth quarter revenue increased 9.2% versus the prior year quarter to $87.7 million, driving fiscal 2019 revenue for the full year to $331.5 million, up 4.6% versus the prior year.
New student starts, excluding the Norwood, Mass. campus, were up 10.4% for the fourth quarter and 11.5% for fiscal 2019 as compared to the respective prior year periods.
Fourth quarter operating income of $5.4 million improved $16.5 million from the prior year quarter loss, while the full year operating
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