More losses, less cash...campus closings and layoffs

"Operating loss was $35.3 million compared to an operating loss of $1.8 million for the prior year period."

"Our cash position, including investments at year end June 30, 2018, remained strong at $58.1 million compared to $97.9 million at September 30, 2017."

"Operating expenses are expected to range between $337 million and $347 million. The decrease in operating expenses are driven from savings related to investments in reducing campus footprint in 2017 and '18, cost savings in campus operating costs, marketing efficiencies and broad expense management."

https://seekingalpha.com/article/4225554-universal-technical-institute-uti-ceo-kimberly-mcwaters-q4-2018-results-earnings-call?part=single

Comment! It's anonymous!

4 replies (most recent on top)

We are all in this together. You work with c-appy wages and job security, I get rich and ready for retirement. You slobs don’t know any better. At least you have a job. Thanks, Kim.

Funny how I see everyone who left is doing far better than they were when they were there. I left years ago and should have jumped ship sooner. I loved that place but it kept getting worse. I started when it was privately owned and when they went public it’s been downhill ever since. I was CTG and had it a lot better than most. And it’s still a bummer.

Still managed to pay 8.4 million in bonuses. NOTE TO KIM.....please stop telling us "we're all in this together", even our campus President tries to make us believe that BS! Just tell us the truth, the executives are in it for the money the rest of you pee-ons should be glad you have a job.

What a scene. That’s too bad for the company and it’s employees. I see more layoffs in the future. Too bad.

Page 14 shows the divestment strategy including Sacramento, Norwood, and Exton.

https://seekingalpha.com/article/4225546-universal-technical-institute-2018-q4-results-earnings-call-slides

Thread regarding Universal Technical Institute Inc. layoffs

More losses, less cash...campus closings and layoffs

4 replies (most recent on top)

Post a reply