$UTI
UNIVERSAL TECHNICAL INSTITUTE INC Stock $uti

$uti Overview Financials Valuation SEC Filings Company Website

2015 Q3 Form 10-Q Financial Statement

#000126165415000032 Filed on August 07, 2015

Income Statement

Concept	2015 Q3	2015 Q2	2014 Q2
Revenue	$90.65M	$85.11M	$91.33M
YoY Change	-4.89%	-6.81%	0.4%
Cost Of Revenue	$24.80M	$22.00M	$23.10M
YoY Change	5.98%	-4.76%	0.43%
Gross Profit	$65.90M	$63.10M	$68.20M
YoY Change	-8.47%	-7.48%	0.44%
Gross Profit Margin	72.69%	74.14%	74.68%
Selling, General & Admin	$66.10M	$41.41M	$41.56M
YoY Change	-2.07%	-0.34%	0.48%
% of Gross Profit	100.3%	65.63%	60.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$4.120M	$4.310M	$4.600M
YoY Change	-7.62%	-6.3%	-17.39%
% of Gross Profit	6.25%	6.83%	6.74%
Operating Expenses	$66.70M	$89.10M	$90.32M
YoY Change	-2.2%	-1.35%	-0.2%
Operating Profit	-$13.23M	-$3.996M	$1.011M
YoY Change	-440.95%	-495.25%	113.74%
Interest Expense	-$500.0K	-$300.0K	-$400.0K
YoY Change	25.0%	-25.0%	-500.0%
% of Operating Profit			-39.56%
Other Income/Expense, Net	-$200.0K	-$291.0K	-$166.0K
YoY Change		75.3%	-205.06%
Pretax Income	-$13.90M	-$4.287M	$845.0K
YoY Change	-508.82%	-607.34%	37.18%
Income Tax	-$4.100M	-$1.312M	$479.0K
% Of Pretax Income			56.69%
Net Earnings	-$9.823M	-$2.975M	$366.0K
YoY Change	-720.14%	-912.84%	8.61%
Net Earnings / Revenue	-10.84%	-3.5%	0.4%
Basic Earnings Per Share	-$0.41	-$0.12	$0.01
Diluted Earnings Per Share	-$0.41	-$0.12	$0.01
COMMON SHARES
Basic Shares Outstanding	24.14M shares	24.14M shares	24.62M shares
Diluted Shares Outstanding		24.14M shares	24.92M shares

Balance Sheet

Concept	2015 Q3	2015 Q2	2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$57.50M	$55.40M	$73.30M
YoY Change	-32.27%	-24.42%	0.0%
Cash & Equivalents	$29.44M	$10.90M	$24.45M
Short-Term Investments	$28.10M	$44.50M	$48.10M
Other Short-Term Assets	$28.20M	$26.30M	$26.30M
YoY Change	-7.54%	0.0%	20.64%
Inventory
Prepaid Expenses
Receivables	$22.41M	$12.56M	$7.750M
Other Receivables	$5.712M	$0.00	$0.00
Total Short-Term Assets	$108.1M	$94.24M	$107.3M
YoY Change	-15.27%	-12.21%	1.57%
LONG-TERM ASSETS
Property, Plant & Equipment	$124.1M	$116.5M	$107.1M
YoY Change	16.1%	8.79%	5.69%
Goodwill	$8.222M	$20.58M	$20.58M
YoY Change	-60.05%	0.0%	0.0%
Intangibles
YoY Change
Long-Term Investments	$3.986M	$3.969M	$4.105M
YoY Change	2.13%	-3.31%	2.63%
Other Assets	$11.91M	$12.13M	$9.984M
YoY Change	20.92%	21.46%	9.02%
Total Long-Term Assets	$166.2M	$169.0M	$167.3M
YoY Change	3.56%	1.0%	8.67%
TOTAL ASSETS
Total Short-Term Assets	$108.1M	$94.24M	$107.3M
Total Long-Term Assets	$166.2M	$169.0M	$167.3M
Total Assets	$274.3M	$263.2M	$274.7M
YoY Change	-4.78%	-4.16%	5.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$14.50M	$14.05M	$9.625M
YoY Change	11.61%	45.94%	94.05%
Accrued Expenses	$10.59M	$6.906M	$7.252M
YoY Change	34.47%	-4.77%	0.28%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$700.0K	$700.0K	$5.300M
YoY Change	-86.54%	-86.79%
Total Short-Term Liabilities	$96.49M	$87.09M	$87.68M
YoY Change	-5.71%	-0.67%	15.6%
LONG-TERM LIABILITIES
Long-Term Debt	$44.10M	$32.00M	$32.60M
YoY Change	35.69%	-1.84%
Other Long-Term Liabilities	$9.458M	$9.538M	$9.953M
YoY Change	-2.91%	-4.17%	30.84%
Total Long-Term Liabilities	$9.458M	$9.538M	$9.953M
YoY Change	-2.91%	-4.17%	30.84%
TOTAL LIABILITIES
Total Short-Term Liabilities	$96.49M	$87.09M	$87.68M
Total Long-Term Liabilities	$9.458M	$9.538M	$9.953M
Total Liabilities	$160.8M	$139.8M	$141.1M
YoY Change	3.84%	-0.86%	18.25%
SHAREHOLDERS EQUITY
Retained Earnings	$32.64M	$42.95M	$50.16M
YoY Change	-34.17%	-14.38%	-14.43%
Common Stock	$178.2M	$177.3M	$174.2M
YoY Change	2.19%	1.77%	1.85%
Preferred Stock	$0.00
YoY Change
Treasury Stock (at cost)	$97.39M	$96.89M	$90.77M
YoY Change	7.29%	6.74%	1.65%
Treasury Stock Shares	6.865M shares	6.013M shares	6.013M shares
Shareholders Equity	$113.5M	$123.4M	$133.6M
YoY Change
Total Liabilities & Shareholders Equity	$274.3M	$263.2M	$274.7M
YoY Change	-4.78%	-4.16%	5.78%

Cashflow Statement

Concept	2015 Q3	2015 Q2	2014 Q2
OPERATING ACTIVITIES
Net Income	-$9.823M	-$2.975M	$366.0K
YoY Change	-720.14%	-912.84%	8.61%
Depreciation, Depletion And Amortization	$4.120M	$4.310M	$4.600M
YoY Change	-7.62%	-6.3%	-17.39%
Cash From Operating Activities	$8.410M	-$8.910M	-$6.310M
YoY Change	-51.16%	41.2%	181.7%
INVESTING ACTIVITIES
Capital Expenditures	-$7.300M	-$5.960M	-$2.300M
YoY Change	72.58%	159.13%	-7.63%
Acquisitions
YoY Change
Other Investing Activities	$18.58M	$11.97M	$3.340M
YoY Change	231.19%	258.38%	24.16%
Cash From Investing Activities	$11.28M	$5.990M	$1.030M
YoY Change	717.39%	481.55%	415.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-1.140M	-2.570M	-3.850M
YoY Change	-71.92%	-33.25%	48.65%
NET CHANGE
Cash From Operating Activities	8.410M	-8.910M	-6.310M
Cash From Investing Activities	11.28M	5.990M	1.030M
Cash From Financing Activities	-1.140M	-2.570M	-3.850M
Net Change In Cash	18.55M	-5.490M	-9.130M
YoY Change	27.58%	-39.87%	97.19%
FREE CASH FLOW
Cash From Operating Activities	$8.410M	-$8.910M	-$6.310M
Capital Expenditures	-$7.300M	-$5.960M	-$2.300M
Free Cash Flow	$15.71M	-$2.950M	-$4.010M
YoY Change	-26.76%	-26.43%	-1704.0%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--09-30
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2015
	dei	Document Period End Date DocumentPeriodEndDate	2015-06-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0001261654
CY2015Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	24138077	shares
	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	UNIVERSAL TECHNICAL INSTITUTE INC.
	dei	Trading Symbol TradingSymbol	UTI
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	us-gaap	Loan Processing Fee LoanProcessingFee	1100000	USD
CY2015Q2	us-gaap	Loan Processing Fee LoanProcessingFee	300000	USD
	us-gaap	Loan Processing Fee LoanProcessingFee	1100000	USD
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	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	3000	USD
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CY2015Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	274203000	USD
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CY2015Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	116509000	USD
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CY2015Q2	us-gaap	Sales Revenue Net SalesRevenueNet	85106000	USD
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CY2014Q3	us-gaap	Treasury Stock Value TreasuryStockValue	90769000	USD
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	uti	Aggregate Tuition And Interest Income Excluded During Period AggregateTuitionAndInterestIncomeExcludedDuringPeriod	11609000	USD
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	uti	Aggregate Tuition And Interest Income Excluded During Period AggregateTuitionAndInterestIncomeExcludedDuringPeriod	5996000	USD
CY2015Q2	uti	Amount Of Loans Committed To Provide AmountOfLoansCommittedToProvide	116.4	USD
CY2013Q3	uti	Amounts Outstanding Under Our Proprietary Loan Program AmountsOutstandingUnderOurProprietaryLoanProgram	59767000	USD
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CY2014Q2	uti	Educational Services And Facilities EducationalServicesAndFacilities	48763000	USD
	uti	Educational Services And Facilities EducationalServicesAndFacilities	150614000	USD
CY2015Q2	uti	Educational Services And Facilities EducationalServicesAndFacilities	47690000	USD
	uti	Educational Services And Facilities EducationalServicesAndFacilities	143663000	USD
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	uti	Expiration Period Of Postemployment Benefits Agreements ExpirationPeriodOfPostemploymentBenefitsAgreements	2016-05
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	uti	Increase Decrease In Accrued Tool Sets And Other Current Liabilities IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities	9000	USD
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	uti	Increase Decrease In Deferred Rent IncreaseDecreaseInDeferredRent	-323000	USD
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	uti	Tuition And Interest Income Excluded TuitionAndInterestIncomeExcluded	18717000	USD
	us-gaap	Description Of New Accounting Pronouncements Not Yet Adopted DescriptionOfNewAccountingPronouncementsNotYetAdopted	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">        </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the Financial Accounting Standards Board (FASB) issued guidance related to customer’s accounting for fees paid in a cloud computing arrangement. The guidance provides clarification on whether a cloud computing arrangement includes a software license. If an arrangement includes a software license, then the software license element is accounted for consistent with the acquisition of other such licenses. If the arrangement does not include a software license, the arrangement is accounted for as a service contract. Entities have the option of adopting the guidance retrospectively or prospectively. The guidance is effective for annual and interim reporting periods beginning after December 15, 2015 with early adoption permitted. We are currently evaluating both the adoption method and the impact that the update will have on our results of operations, financial condition and the financial statement disclosures. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">    </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2015, the FASB issued guidance which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. Specifically, the amendments (1) modify the evaluation of whether limited partnerships with similar legal entities are variable interest entities (VIEs) or voting interest entities, (2) eliminate the presumption that a general partner should consolidate a limited partnership, (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. Entities have the option of using a full or modified retrospective approach to adopt the guidance. This guidance is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015 with early adoption permitted. We are currently evaluating both the adoption method and the impact that the update will have on our results of operations, financial condition and the financial statement disclosures.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued guidance which outlines a single comprehensive revenue model for entities to use in accounting for revenue arising from contracts with customers. The guidance supersedes most current revenue recognition guidance, including industry-specific guidance, and requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. Entities have the option of using either a full retrospective or modified approach to adopt the guidance. In June 2015, the FASB deferred the effective date of the guidance by one year. This guidance is now effective for annual and interim reporting periods beginning after December 15, 2017, and early adoption is now permitted for annual and interim reporting periods beginning after December 15, 2016. We do not plan to early adopt this guidance; accordingly, the standard will be effective for us starting with our fiscal year beginning October 1, 2018. We are currently evaluating the adoption methods and the impact that the update will have on our results of operations, financial condition and financial statement disclosures.</font></div></div>
	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are the leading provider of postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians as measured by total average undergraduate full-time student enrollment and graduates. We offer undergraduate degree and diploma programs at </font><font style="font-family:inherit;font-size:10pt;">11</font><font style="font-family:inherit;font-size:10pt;"> campuses across the United States under the banner of several well-known brands, including Universal Technical Institute, Motorcycle Mechanics Institute and Marine Mechanics Institute and NASCAR Technical Institute. We also offer manufacturer specific training (MSAT) programs, including student paid electives, at our campuses and manufacturer or dealer sponsored training at certain campuses and dedicated training centers.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We work closely with leading original equipment manufacturers (OEMs) in the automotive, diesel, motorcycle and marine industries to understand their needs for qualified service professionals. Revenues generated from our schools consist primarily of tuition and fees paid by students. To pay for a substantial portion of their tuition, the majority of students rely on funds received from federal financial aid programs under Title IV Programs of the Higher Education Act of 1965, as amended (HEA), as well as from various veterans benefits programs. For further discussion, see Note 2 "Summary of Significant Accounting Policies - Concentration of Risk" and Note 19 “Government Regulation and Financial Aid” included in our 2014 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on December 3, 2014.</font></div></div>

Files In Submission

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$UTI
UNIVERSAL TECHNICAL INSTITUTE INC Stock $uti

2015 Q3 Form 10-Q Financial Statement

#000126165415000032 Filed on August 07, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$UTI UNIVERSAL TECHNICAL INSTITUTE INC Stock $uti

2015 Q3 Form 10-Q Financial Statement

#000126165415000032 Filed on August 07, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$UTI
UNIVERSAL TECHNICAL INSTITUTE INC Stock $uti