Universal Technical Institute, Inc. (NYSE:UTI) Q1 2016 Earnings Conference Call - Final Transcript
Feb 04, 2016 • 04:30 pm ET
auto diesel programs had manufactured specific training. As many of you know, typically these students with manufacture specific training find employment quicker and have the potential to earn a higher starting wage. Additionally, our employers and industry partners benefit by hiring grads with higher levels of training and who are better equipped to go right to work.
Finally, let me take a minute to talk about our outlook for the remainder of the fiscal year. For the year ended September 30, we expect new student starts to be down in the low the mid-single-digits and expect our average student population to be down in the mid to high-single-digits as a percentage comparing with the year ended September 30th of 2015. While annual tuition increases will slightly offset the decline in average students, we still expect revenue to decline approximately 3% to 5%.
To support future student growth, we will continue to invest in growth opportunities during the year, which will result in lower operating income and minimum levels of the EBITDA this year. Capital expenditures are expected to be in the range of $19.5 million to $20.5 million during the year. And as always, we'll remind you that due to seasonality of our business and normal fluctuations in student populations, we would expect to see volatility in our quarterly results.
And with that, I think we're now ready to open the line for any questions that might be out there. Operator?