By Ben Unglesbee
January 3, 2019
NAU’s fortunes have fallen with the for-profit sector as a whole. Its exit from the Nasdaq exchange may be largely symbolic for non-investors, but it reflects real financial troubles that have affected many in the sector, including two large for-profit operators that abruptly shuttered operations in December.
From 2014 to 2018, NAU’s revenue dropped nearly 40% to $77.2 million in the fiscal year ending in May 2018, due primarily to enrollment declines. During that time, the company went from making profits of $3.5 million to a loss of (continue reading…)