Stock Newsletter on Notable Stock Earnings Surprises (LERN, PCX)

K12 Inc. (NYSE:LRN) jumped 1.50% after the company reported a narrower the estimated loss in its fiscal fourth-quarter.

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The company it widened its loss during the quarter to $1.32 million, or 4 cents per share, from $0.67 million, or 2 cents per share, in the year-earlier period due to by higher instructional costs and services expenses.

Revenue grew 22.4% to $88.32 million from $72.17 million in the same quarter last year.

Analysts were expecting the company to post a loss of 8 cents a share with revenue of $88.86 million.

Ron Packard, Chief Executive Officer of K12 Inc., stated, "We are quite pleased with our record results for fiscal year 2010. I am proud of the many accomplishments of our students, teachers and employees. Over 1,000 students graduated this year from virtual schools using the K(12) curriculum.”

K12 Inc. (K12) is a technology-based education company. The Company offers curriculum and educational services created for online delivery to students in kindergarten through 12th grade, or K-12. The Company delivers its learning system to students primarily through virtual public schools.

Patriot Coal Corporation (NYSE:PCX) fell 2.20% to $11.57 after the company reduced its third-quarter sales volume outlook, citing downtime and difficult geological conditions at its mines in West Virginia.

The company also said that sales are now expected to be 7.5-7.7 million tons in its third-quarter, down about 10% from its earlier estimate. 

The company estimated that it would require about $50 million in initial costs to install a system to treat selenium discharges. The court had also ordered Patriot to establish a $45 million letter of credit to secure performance of its obligations.

Patriot also reported that production at the Black Oak mine began early this month and it is expected to produce around 500,000 tons of metallurgical coal annually.

Patriot Coal Corporation (Patriot) is a producer of coal in the eastern United States, with operations and coal reserves in Appalachia and the Illinois Basin. It is also a producer of metallurgical coal.

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