![]() ![]() The Company discloses these non-GAAP financial measures because it believes that they provide investors an additional analytical tool to clarify its results of operations and identify underlying trends. These financial measures are not recognized measures under GAAP and are not intended to be and should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. generally accepted accounting principles ("GAAP"), the Company also discloses certain non-GAAP financial information in this press release and may similarly disclose non-GAAP financial information on the related conference call. In addition to disclosing financial results that are determined in accordance with U.S. Our balance sheet remains strong, as does our cash flow from operations, which has supported our continued investment in selective acquisitions and new programs and facilities that will drive growth going forward, leaving us well positioned to continue executing on our plans for the year.” Further, profitability was impacted by costs in the quarter related to investments we have been making into the business that we expect to yield positive returns later in the year and beyond, and a negative contribution from Concorde given the seasonality of the business and timing of the acquisition. “While our profitability for the quarter was down compared to last year, this was expected given the specific mix and timing of revenue and cost items which produced an exceptionally strong UTI performance in the prior year period. ![]() ![]() “We are pleased with our first quarter results, which were driven by solid execution and diligent expense management,” said Universal Technical Institute, Inc.
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