United Education Profit Up 88%
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United Education and Software said its profit rose 88%, to $158,000, or 5 cents a share, in the first quarter ended April 30.
The Encino-based company, which operates trade and technical schools, said its quarterly revenue rose 36% to $7.3 million, mostly because the three-month period was its first full quarter after acquiring National Technical Schools of Los Angeles.
United Education said during the quarter that it enjoyed $38,000 in benefits from tax-loss carryforwards, which allow a company to reduce taxes by deducting losses from taxable income. In addition, United Education’s earnings have improved over the last year because of the scaling down of its unprofitable computer-equipment business.
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