Saturday, February 07, 2009

Mechanics No Show at Universal Tech Institute

Although total starts increased by six percent to 3,319 newly enrolled students at auto mechanic training school Universal Technical Institute (UIT-$12.18), actual show rates—defined as is the number of student starts as a percentage of those who were scheduled to start during the same timeframe—fell by 220 basis points in the first quarter ended December. After careful assessment of the drivers behind the decline, UTI management believes that weaknesses in the economy and/or concerns with the health of the automotive industry impacted students’ ability to begin school as planned.

However, an increase in lending activity has increased default rates….
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Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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