http://www.wealthdaily.com/articles/the-death-of-corinthian-colleges-nasdaqcoco/5245
1 reply
Great Article -
"The company’s financial data fails to make the grade on multiple metrics, with a profit margin over the trailing 12 months of -6.52%, a return on equity of -15.07%, year-over-year quarterly growth of -11.7%, and operating cash flows of -$32.71 million over the past 12 months. In fact, the company has been haemorrhaging money for at least the past three years, losing $102 million in fiscal year 2011, $35 million in 2012, and $26 million in 2013. Worst of all is the school’s atrocious debt level of $141.61 million, some 705% of its $20.07 million market cap.
With its stock plummeting from $19 a share in 2010 to $2 within little more than a year, clearly there was ample incentive to falsify its training performance and job placement successes to save its ailing business."