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Bridgepoint Education Inc (BPI) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

Bridgepoint Education Inc

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CIK: 1305323 Ticker: BPI
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News Release
Contact: Anna Davison, Investor Relations
866.475.0317 x11620
investorrelations@bridgepointeducation.com

Bridgepoint Education Reports First Quarter 2018 Results

SAN DIEGO (May 1, 2018) - Bridgepoint Education (NYSE:BPI), a provider of postsecondary education services, today announced its results for the three months ended March 31, 2018.
Financial Results for the Three Months Ended March 31, 2018
Revenue for the three months ended March 31, 2018 was $118.0 million, compared with revenue of $129.5 million for the three months ended March 31, 2017.
Operating income for the three months ended March 31, 2018 was $0.4 million, compared with operating income of $9.7 million for the three months ended March 31, 2017.
Net income for the three months ended March 31, 2018 was $2.3 million, compared with net income of $9.9 million for the three months ended March 31, 2017.
Diluted income per share for the three months ended March 31, 2018 was $0.08, compared with diluted income per share of $0.23 for the three months ended March 31, 2017.
The Company recognized an income tax benefit of $1.7 million for the three months ended March 31, 2018, compared with an income tax expense of $0.2 million for the three months ended March 31, 2017.
Non-GAAP Financial Results for the Three Months Ended March 31, 2018
Non-GAAP operating income for the three months ended March 31, 2018 was $0.2 million, compared with non-GAAP operating income of $9.7 million for the three months ended March 31, 2017. Non-GAAP operating income for the three months ended March 31, 2018 excludes a credit to restructuring and impairment of $0.2 million. There were no restructuring and impairment charges for the three months ended March 31, 2017.
Non-GAAP net income for the three months ended March 31, 2018 was $0.4 million, compared with non-GAAP net income of $9.9 million for the three months ended March 31, 2017. Non-GAAP net income for the three months ended March 31, 2018 excludes a credit to restructuring and impairment of $0.2 million and an income tax benefit of $1.7 million. There were no restructuring and impairment charges for the three months ended March 31, 2017.
Non-GAAP diluted income per share for the three months ended March 31, 2018 was $0.01, compared with non-GAAP diluted income per share of $0.23 for the three months ended March 31, 2017.
Balance Sheet and Cash Flow
As of March 31, 2018, the Company had combined cash, cash equivalents and investments of $173.3 million, compared with combined cash, cash equivalents and investments of $187.2 million as of December 31, 2017.
The Company used $15.1 million of cash in operating activities during the three months ended March 31, 2018, compared with $11.5 million of cash used in operating activities during the three months ended March 31, 2017.
Student Enrollment
Total student enrollment at the Company's combined academic institutions was 41,523 students at March 31, 2018, compared with total student enrollment of 46,383 at March 31, 2017.

The following information was filed by Bridgepoint Education Inc (BPI) on Tuesday, May 1, 2018 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 Bridgepoint Education Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

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, Net
Accounts Receivable, Net (change In Allowance) (details)
Accounts Receivable, Net (details)
Accounts Receivable, Net (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Credit Facilities
Credit Facilities (details)
Income Per Share
Income Per Share (anti-dilutive Securities) (details)
Income Per Share (basic And Diluted Earnings Per Share) (details)
Income Per Share (tables)
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 Expense (credit)
Restructuring And Impairment Expense (credit) (details)
Restructuring And Impairment Expense (credit) Restructuring And Impairment Expense (credit) (tables)
Revenue Recognition (details)
Revenue Recognition (notes)
Revenue Recognition (tables)
Stock Repurchase Program Stock Repurchase Program
Stock Repurchase Program Stock Repurchase Program (details)
Stock-based Compensation
Stock-based Compensation (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies Recent Accounting Pronouncements (details)

Material Contracts, Statements, Certifications & more

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

Exhibit 10.1: Material Contract
Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: BPI
CIK: 1305323
Form Type: 10-Q Quarterly Report
Accession Number: 0001305323-18-000034
Submitted to the SEC: Tue May 01 2018 4:35:58 PM EST
Accepted by the SEC: Tue May 01 2018
Period: Saturday, March 31, 2018
Industry: Educational Services

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