Universal Technical Institute, Inc. (NYSE:UTI) reported revenue was $163.8 million with UTI increasing 5.4% versus the prior year period with Concorde Career Colleges, that it acquired last year, contributing $56.3 million for its fiscal 2023 second quarter ended March 31.
Net income was $3.5 million, adjusted net income of $6.3 million, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $19.2 million. Total new student starts were 4,626 with UTI increasing 4.4% versus the prior year period and 2,252 contributed by Concorde.
The Company’s current year results include Concorde for the four months ended March 31, 2023, reflecting
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