Universal Technical Institute, Inc. reported financial results for its fiscal 2017 third quarter ended June 30, 2017.
Revenues for the quarter were $76.3 million, compared to $82.3 million for the prior year period. Revenues exclude tuition related to students participating in the company’s proprietary loan program, which were $4.0 million and $4.2 million for the third fiscal quarter of 2017 and 2016, respectively. This tuition will be recognized as revenues when payments are received.
Operating expenses for the quarter were $79.0 million, compared to $87.7 million for the prior year period.