Universal Technical Institute, Inc. (NYSE: UTI), the provider of transportation technician training, reported revenue of $54.5 million for its fiscal third quarter ended June 30, down 31% from the prior year quarter reflecting timing of students returning from leave of absence (LOA) and overall student progression through make-up labs.
The company reported new student starts increased 8.4% from the prior year quarter and 91% of enrolled students are now active, and 87% of active students have completed or are in-process with their make-up labs.
Operating expenses decreased by 14.1% to $68.3 million, compared to $79.5 million, primarily due to decreases
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