The king of the privatized virtual learning world, K12Inc. has investors checking to see if they're still wearing their shorts. The problem continues to be extravagant costs stemming from huge salaries paid to top execs, plus K12 students scoring behind kids in brick-and-mortar schools.
Market Watch reports: K12 Inc.'s fiscal first-quarter profit slipped 5.3% as the online education provider saw a double-digit revenue increase weighed down by a continued rise in costs.The stock has fallen 42% in the past 12 months. In the latest period, instructional expenses were up 17%, and selling, general and administrative expenses rose 15%.
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