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Lincoln Educational Services reports on career-oriented post-secondary education for high school graduates and working adults, with programs in skilled trades, automotive technology, health sciences and information technology. The company operates campus-based schools under the Lincoln College of Technology, Lincoln Technical Institute and Nashville Auto Diesel College brands.
Company news commonly covers quarterly results, student starts and student population trends, tuition and campus operating performance, program replication, new-campus development, graduate placement themes, investor presentations and financing actions such as revolving credit facility amendments.
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Lincoln Educational Services Corporation (NASDAQ: LINC) announces the release of a new computerized manufacturing textbook, the 'CNC Programmer’s Guide,' authored by Rick Calverley, Director of Education at the Grand Prairie, TX campus. This is Calverley's second textbook, aiming to modernize CNC programming education with advanced techniques. Launched alongside a successful CNC training program since 2014, 90% of graduates from the Grand Prairie campus secured employment last year. The U.S. Department of Labor anticipates 147,000 new CNC machinist roles will arise across various industries, indicating strong demand for skilled graduates from Lincoln Tech.
Lincoln Educational Services Corporation (NASDAQ: LINC) announced the mandatory conversion of its Series A Convertible Preferred Stock, resulting in the cancellation of 12,700 shares and the issuance of 5,381,360 shares of Common Stock. This conversion eliminates $1.2 million in annual dividends and simplifies the company’s capital structure, providing more resources for strategic initiatives. The correction in the press release addressed a decimal point in the conversion ratio, but the number of converted shares remains unchanged.
Lincoln Educational Services Corporation (NASDAQ: LINC) has fully converted its Series A Convertible Preferred Stock, cancelling 12,700 shares in exchange for 5,381,360 shares of common stock. This action eliminates $1.2 million in annual dividend payments, simplifying the company’s capital structure and providing additional resources for strategic initiatives. CEO Scott Shaw expressed satisfaction over this development, which marks a significant change in the company's financial obligations.
Lincoln Educational Services Corporation (NASDAQ: LINC) has launched Heavy Equipment Operation training programs at its Nashville, TN, and South Plainfield, NJ campuses to address the growing demand for skilled operators. The program can be completed in as little as eight weeks and includes both theoretical and practical components, utilizing CAT Simulators for hands-on experience. With over 450,000 projected openings for Heavy Equipment Operators nationwide by 2031, this initiative aims to enhance workforce readiness and support the construction industry.
Lincoln Educational Services Corporation (NASDAQ: LINC) is launching a new Medical Assistant training program at its East Windsor, CT campus on November 30, addressing the significant demand for qualified candidates in the healthcare sector. With over 12,000 job openings expected in Connecticut by 2030 and 80,000 across New England and New York, this program aims to prepare students through a hybrid learning model. The campus has invested over $200,000 to set up specialized training facilities, helping meet employer needs in a rapidly growing field.
Lincoln Educational Services Corporation (LINC) reported a revenue of $91.8 million for Q3 2022, a 3.1% increase year-over-year. Net income stood at $3.5 million with earnings per share at $0.10. The rise in revenue was driven by a 5.9% increase in average revenue per student, despite a 2.7% decline in average student population. The company repurchased 668,440 shares for $4.2 million, maintaining a cash balance of $69.6 million and no debt. Looking ahead, LINC expects student starts to increase in Q4 2022.
Lincoln Educational Services Corporation (Nasdaq: LINC) will host a conference call on November 7, 2022, at 10:00 a.m. Eastern time to discuss its third quarter financial results. The release detailing the results will be available before 9:30 a.m. Eastern time on the same day. Investors can access the live webcast via Lincoln's investor relations page or register for the teleconference. An archived version of the webcast will be available for 90 days. Lincoln offers career-oriented education across various fields, currently operating 22 campuses in 14 states.
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Lincoln Educational Services Corporation (NASDAQ: LINC) announced that student Avery Hill has been awarded a $5,000 Work Ethic Scholarship from the Mike Rowe Works Foundation. Enrolled in the Heating, Ventilation and Air Conditioning (HVAC) program at Lincoln's East Windsor, CT campus, Hill's scholarship highlights the importance of career-focused education in in-demand trades. Hill, motivated by the HVAC industry's job stability, plans to graduate in September 2023 and return to his hometown to pursue a specialized career in air conditioning and refrigeration.