Benzinga | May 10, 2021 08:27AM EDT

Lincoln Educational Services Sees FY21 Adj EBITDA $32M-$37M; Sees Pre-Tax Income $22M-$27M; Reaffirms Other Guidance

2021 OUTLOOK

The Company is updating its outlook for 2021 as follows:

* Reaffirming annual revenue growth of 7% to 12% over 2020.

* Reaffirming full year student starts growth of 5% to 10% over 2020.

* Raising adjusted EBITDA by $3.0 million to between $32.0 million and $37.0 million as compared to $23.9 million in 2020.

* Raising pre-tax Income by $3.0 million to between $22.0 million and $27.0 million as compared to $13.5 million in 2020.

* Reaffirming capital expenditures of approximate $7.5 million.

*Adjusted EBITDA is defined as EBITDA plus non-cash stock compensation expense.