K12 Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2016. For the quarter, the company reported revenues of $221.090 million against $208.811 million a year ago. Income from operations was $18.323 million against $14.73 million a year ago. Net income attributable to common stockholders was $11.652 million or $0.30 per diluted share against $8.54 million or $0.23 per basic and diluted share a year ago. Income before income taxes and non controlling interest was $18.6 million against $14.54 million a year ago. EBITDA was $30.7 million, increasing 18.6% from the same quarter last year. Adjusted operating income of $22.9 million, compared to $19.7 million in the second quarter of fiscal year 2016. Adjusted EBITDA of $41.6 million, compared to $36.2 million in the second quarter of fiscal year 2016. Capital expenditures were $9.8 million, a decline of $1.8 million from the prior year. This decrease was a result of lower capitalized software and property and equipment expenditures, somewhat offset by larger investments in curriculum.

For the six months, the company reported revenues of $450.23 million against $430.041 million a year ago. Loss from operations was $4.35 million against $5.73 million a year ago. Net income attributable to common stockholders was $2.2 million or $0.06 per basic and diluted share against $4.3 million or $0.11 per basic and diluted share a year ago. Net cash provided by operating activities was $10.3 million against $12.95 million a year ago. Loss before income taxes and non controlling interest was $3.740 million against $6.224 million a year ago. Adjusted operating income of $4.9 million, compared to $3.8 million for the first six months of fiscal year 2016. Adjusted EBITDA of $41.3 million, compared to $36.8 million for the first six months of fiscal year 2016. Capital expenditures for the six months ended December 31, 2016 were $23.9 million, a decrease of $1.9 million from the prior year's first six months, and was comprised of: $1.3 million for property and equipment, $13.5 million for capitalized software development, and $9.1 million for capitalized curriculum.

The company revised capital expenditure guidance for the fiscal full year 2017. Capital expenditures are expected in the range of $55 million to $60 million. This is a reduction from the previous guidance of $60 million to $65 million.

The company provided earnings guidance for the fiscal third quarter 2017. Revenue is expected in the range of $210 million to $220 million. Operating income is expected in the range of $14 million to $17 million. Capital expenditures is expected in the range of $14 million to $16 million. Adjusted operating income is expected in the range of $18 million to $21 million.