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Universal Technical Institute reported a revenue increase for its fiscal 2007 first quarter, but also noted its advertising push to draw more students has not been as successful as the company would wish.
The Phoenix-based company said its net revenue was $89.5 million, a nearly 5 percent increase over the same period last year. The revenue increase came as a result of higher tuition prices and more students taking two courses at the same time in comparison to a year ago, the company stated in a press release.
However, the company reported its average undergraduate enrollment for the first quarter was 17,265, an approximately 1 percent decrease from the same period a year ago. That decrease comes after UTI increased its advertising expenses.
