UPDATE 2-Bridgepoint tops estimates, 2010 view strong; shares up

martedì 2 marzo 2010 16:24

* Q4 adj EPS $0.34 vs est. $0.24

* Q4 revenue up 91 pct

* Sees 2010 results above Street estimates

* Bad debt as a pct of 2010 rev seen at 5.1 pct

* Shares rise 13 pct (Adds details, analyst comments, share movement)

By Bijoy Anandoth Koyitty

March 2 (Reuters) - Bridgepoint Education Inc (BPI.N: Quotazione) posted better-than-expected quarterly results, helped by a 49 percent growth in new student enrollment, and forecast a strong 2010, sending its shares up as much as 13 percent.

The company said it expects total student enrollment -- a key metric for education companies -- to be between 69,000 and 71,000 at Dec. 31, 2010, which implies a rise of 29 percent to 32 percent from 2009.

"Some concerns were that Bridgepoint would have to self regulate, given the myriad of regulatory concerns, and it is pleasing to see that, despite the concerns, the management still provided guidance above consensus estimates," Wedbush Morgan Securities analyst Ariel Sokol said by phone.   Continua...