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Bridgepoint Education Inc (BPI) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2017

Bridgepoint Education Inc

CIK: 1305323 Ticker: BPI
imagebpi.jpg

News Release
Contact: Kevin Royal, Chief Financial Officer
866.475.0317 x11120
investorrelations@bridgepointeducation.com

Bridgepoint Education Reports First Quarter 2017 Results

SAN DIEGO (May 2, 2017) - Bridgepoint Education (NYSE:BPI), a provider of postsecondary education services, today announced its results for the three months ended March 31, 2017.
Financial Results for the Three Months Ended March 31, 2017
Revenue for the three months ended March 31, 2017 was $129.5 million, compared with revenue of $133.0 million for the three months ended March 31, 2016.
Operating income for the three months ended March 31, 2017 was $9.7 million, compared with operating loss of $16.3 million for the three months ended March 31, 2016.
Net income for the three months ended March 31, 2017 was $9.9 million, compared with net loss of $10.1 million for the three months ended March 31, 2016.
Diluted income per share for the three months ended March 31, 2017 was $0.23, compared with diluted loss per share of $0.22 for the three months ended March 31, 2016.
The Company recognized income tax expense of $0.2 million for the three months ended March 31, 2017, compared with income tax benefit of $5.5 million for the three months ended March 31, 2016.
Non-GAAP Financial Results for the Three Months Ended March 31, 2017
Non-GAAP operating income for the three months ended March 31, 2017 was $9.7 million, compared with non-GAAP operating loss of $1.7 million for the three months ended March 31, 2016. Non-GAAP operating loss for the three months ended March 31, 2016 excludes a legal settlement expense of $13.9 million and restructuring and impairment charges of $0.7 million.
Non-GAAP net income for the three months ended March 31, 2017 was $9.9 million, compared with non-GAAP net loss of $0.9 million for the three months ended March 31, 2016. Non-GAAP net loss for the three months ended March 31, 2016 excludes a legal settlement expense of $13.9 million, restructuring and impairment charges of $0.7 million and a tax benefit of $5.4 million.
Non-GAAP diluted income per share for the three months ended March 31, 2017 was $0.23, compared with non-GAAP diluted loss per share of $0.02 for the three months ended March 31, 2016.
Balance Sheet and Cash Flow
As of March 31, 2017, the Company had cash and cash equivalents, restricted cash and investments of $216.7 million, compared with cash and cash equivalents, restricted cash and investments of $381.8 million as of December 31, 2016.
The Company used $11.5 million of cash in operating activities during the three months ended March 31, 2017, compared with $20.5 million of cash used in operating activities during the three months ended March 31, 2016.


The following information was filed by Bridgepoint Education Inc (BPI) on Tuesday, May 2, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets - Parenthetical
Condensed Consolidated Statement Of Stockholders' Equity
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Income
Accounts Receivable
Accounts Receivable (change In Allowance) (details)
Accounts Receivable (details)
Accounts Receivable (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Credit Facilities
Credit Facilities (details)
Earnings (loss) Per Share
Earnings (loss) Per Share (anti-dilutive Securities) (details)
Earnings (loss) Per Share (basic And Diluted Earnings Per Share) (details)
Earnings (loss) Per Share (tables)
Earnings (loss) Per Share Earnings (loss) Per Share (share Repurchase) (details)
Income Taxes
Income Taxes (details)
Investments
Investments (details)
Investments (tables)
Lease Obligations
Lease Obligations (details)
Lease Obligations (tables)
Nature Of Business
Other Significant Balance Sheet Accounts
Other Significant Balance Sheet Accounts (accounts Payable And Accrued Liabilities) (details)
Other Significant Balance Sheet Accounts (deferred Revenue) (details)
Other Significant Balance Sheet Accounts (goodwill And Intangibles, Net) (details)
Other Significant Balance Sheet Accounts (other Long-term Liabilities) (details)
Other Significant Balance Sheet Accounts (prepaid Expenses And Other Current Assets) (details)
Other Significant Balance Sheet Accounts (property And Equipment, Net) (details)
Other Significant Balance Sheet Accounts (remaining Amortization Expense) (details)
Other Significant Balance Sheet Accounts (tables)
Regulatory
Restructuring And Impairment Charges
Restructuring And Impairment Charges (details)
Restructuring And Impairment Charges Restructuring And Impairment Charges (tables)
Stock-based Compensation
Stock-based Compensation (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies Cash And Cash Equivalents (details)
Summary Of Significant Accounting Policies Cash And Cash Equivalents (tables)

Material Contracts, Statements, Certifications & more

Bridgepoint Education Inc provided additional information to their SEC Filing as exhibits

Ticker: BPI
CIK: 1305323
Form Type: 10-Q Quarterly Report
Accession Number: 0001305323-17-000036
Submitted to the SEC: Tue May 02 2017 4:24:54 PM EST
Accepted by the SEC: Tue May 02 2017
Period: Friday, March 31, 2017
Industry: Educational Services

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