RTTNews | Oct 27, 2020 08:59AM EDT

08:58 Tuesday, October 27, 2020 (RTTNews.com) - Shares of K12 Inc. (LRN) are rising over 10% in pre-market today, after the company reported a turnaround to profit for the first quarter. The stock has been trading in the range of $15.06 - $52.84 for the past one year, and closed Monday's trade at $28.23, down 47 cents or 1.64%. LRN is currently trading at $31.32, up $3.07 or 10.87% in the pre-market trading session Tuesday.

The company's Q1 net income was $12.7 million or $0.30 per share compared to a loss of $9.7 million or $0.25 per share last year. Revenues for the quarter increased to $371.0 million from $257.1 million generated a year ago. Analysts polled by Thomson Reuters expected a loss of $0.31 per share on revenue of $362.52 million for the quarter. Analysts' estimate typically exclude certain special items.

Q2, FY21 Guidance

For the second quarter, the company projects revenue to be in the range of $358 million - $366 million, while Wall Street analysts estimate revenue of $366.28 million for the quarter.

For fiscal 2021, K12 expects revenue to range between $1.445 billion and $1.470 billion, while analysts look for revenue of $1.44 billion for the fiscal year 2021.

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