Bridgepoint Education Inc.’s net loss more than doubled in the fourth quarter, as compared to the same period a year earlier, even as the San Diego-based company’s red ink for 2016 narrowed by 57 percent year over year.
Bridgepoint posted a fourth-quarter net loss of $13.8 million on revenues of $119.5 million. A year before, its loss came to $6.7 million on revenues of $131.4 million.
The loss would have been larger if not for a $4.3 million income tax benefit in the quarter. A year before it reported an income tax expense of $1.2 million.
For the year, the company experienced a $30 million net loss on revenues of $527.1 million. In 2015, it reported a net loss of $70.5 million on revenues of $561.7 million.
Bridgepoint owns two academic institutions: Ashford University, an online school based in San Diego, and the University of the Rockies, in Denver.