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For the year ending September 30, 2016, $UTI expects new student starts and average student population to be down in the low double digits as a percentage versus the prior year. It expects revenue to decline by 6-7% leading to minimal levels of EBITDA excluding severance charges. Full-year 2016 Capex is expected to be $8-9MM.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.