National Education Corp. Reports Record Earnings

Expanded enrollments helped push National Education Corp.’s third quarter earnings to a record $4.2 million, up 31% from $3.2 million for the same period a year earlier.

The Newport Beach-based operator of vocational and industrial training programs said revenue for the quarter was a record $46 million, up 5% from $43.8 million for the year-earlier period. Results for the three months include a gain of $480,000 from the sale of property.

For the first nine months of 1985, the company reported net income of $7.9 million, down 7% from $8.5 million in the comparable period last year. Revenue for the nine months was $135.7 million, up 7% from $126.6 million last year.

Third quarter enrollments at the company’s educational centers were 20% higher than last year, said H. David Bright, president and chief executive. Bright said the company anticipates “strong growth” through the end of the year and is “well within reach” of recording its 11th straight year of record financial performance.