CHARLES TOWN, W.Va. (AP) — CHARLES TOWN, W.Va. (AP) — American Public Education Inc. (APEI) on Tuesday reported a loss of $51.2 million in its second quarter.

On a per-share basis, the Charles Town, West Virginia-based company said it had a loss of $2.93. Losses, adjusted for asset impairment costs, came to 25 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.

The for-profit education company posted revenue of $147.2 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $146.2 million.

For the current quarter ending in September, American Public Education said it expects revenue in the range of $148.3 million to $150.3 million.

American Public Education shares have decreased 56% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.37, a decrease of 66% in the last 12 months.

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