/PRNewswire/ Universal Technical Institute, Inc. (NYSE: UTI), a leading provider of transportation and technical training programs, reported financial.
/PRNewswire/ Universal Technical Institute, Inc. (NYSE: UTI), a leading provider of transportation and technical training programs, reported financial.
Universal Technical Institute Reports Fiscal Year 2021 First Quarter Results
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PHOENIX, Feb. 4, 2021 /PRNewswire/
Universal Technical Institute, Inc. (NYSE: UTI), the leading provider of transportation technician training, reported financial results for the fiscal 2021 first quarter ended December 31, 2020.
New student starts increased 20.9% from the prior year quarter.
Average enrollments increased 1.8% during the quarter as compared to the prior year period.
First quarter revenue of $76.1 million decreased 12.7% compared to the prior year quarter.
Adjusted free cash flow of $5.8 million for the quarter, compared to $7.0 million in the prior year quarter. This quarter marks another important step as we continue to build on UTI s superior track-record of preparing our students for careers in fields where the demand far outstrips the supply of credentialed candidates. Our strategy is focused in three key areas: student outcomes, inno