November 19, 2004 |
Corinthian Colleges Inc., which specializes in schools for healthcare professionals, named board member Jack Massimino as president and chief executive, effective immediately. The shares fell nearly 12%. Massimino, 55, who has been on Corinthian's board for six years, succeeds David Moore, the Santa Ana-based company said. Moore, 66, will remain chairman. Massimino takes over as the company faces an investigation by the Securities and Exchange Commission into financial statements.
September 23, 2004 |
Corinthian Colleges Inc., facing state and federal investigations, said Wednesday that its Bryman College campus in San Jose was again able to comply with the U.S. Education Department's rules to receive tuition reimbursements in advance. The Santa Ana company, one of the largest for-profit operators of trade and technical colleges in the U.S. and Canada, acknowledged in June that a government review had found that the San Jose campus failed to meet student financial aid requirements.
September 21, 2004 |
Corinthian Colleges Inc., already hit with federal and state investigations, said Monday that the Securities and Exchange Commission has launched an informal probe into the company. The SEC is looking at company statements and performance during the fiscal year that ended June 30 and for the quarter ending Sept. 30, Corinthian said in a statement. The company said it believed the SEC also was looking at a U.S.
September 6, 2004 |
With a successful business as a personal chef, Elizabeth Simek was living the dream of every weekend gourmet. Her Busy B's Personal Chef Service was pulling in more than $50,000 a year. But Simek worried that it wouldn't last. So the Peoria, Ariz., entrepreneur set out to earn a bachelor's degree in business management through an online program from Florida Metropolitan University, one of dozens of trade and technical colleges run by Santa Ana-based Corinthian Colleges Inc.
September 2, 2004 |
Corinthian Colleges Inc. reported a 6% increase in quarterly net income Wednesday despite heavy spending on its schools and turmoil caused by a federal investigation and several lawsuits. The Santa Ana-based education company's earnings were slightly better than Wall Street's recently diminished expectations, pushing its shares up $2.64, or 23%, to $14.01 on Nasdaq. For its fiscal fourth quarter ended June 30, Corinthian earned $19.
April 29, 2004 |
K-Swiss Inc., an athletic-shoe maker that split its shares and doubled its dividend in December, cut its 2004 profit and sales forecasts after orders from Foot Locker Inc. dropped. Its shares fell 21%. K-Swiss expects to earn $1.40 to $1.50 a share this year, down from its earlier forecast of $1.50 to $1.65, on sales of $460 million to $480 million. The company reported net income of $1.32 a share on sales of $429.2 million in 2003. Shares of Westlake Village-based K-Swiss fell $5.06 to $19.
December 17, 2003 |
U.S. stock exchanges, reacting to the recent dispute over trading in Corinthian Colleges Inc., said Tuesday that they would coordinate trading halts when there was "extraordinary market activity" in shares listed on Nasdaq. The seven markets that trade Nasdaq stocks agreed that the electronic market may halt trading in a stock if a systems failure could not be resolved within five minutes of notifying other markets.
December 6, 2003 |
Job-training specialists such as Santa Ana-based Corinthian Colleges Inc., which have enjoyed a huge run-up in their stock prices over the last three years, got a few lessons this week in the fickleness of the market. After allegations of fraud at Illinois-based Career Education Corp. surfaced Wednesday, investors took a hickory stick not only to Career -- whose stock fell 33% in two days -- but also to University of Phoenix parent Apollo Group Inc.