The Universal Technical Institute (UTI) reached revenue of $107 million in its third quarter, a 22 percent increase from the same period a year ago, the institute stated in a press release.
Net income for the third quarter was $6.3 million compared to $1.9 million from the same quarter in 2009. The number of students starting school in the third quarter increased 35 percent from last year.
“This was an exciting quarter for UTI as we opened our 11th campus and launched our new blended learning curriculum,” Kimberly McWaters, president and CEO, stated in the release. “It was a solid quarter of record revenues, 20 percent growth in average enrollment and 35 percent growth in students starting school in the third quarter.”