K12 Inc. (NYSE:LRN), provider of online education services to students in kindergarten through 12th grade, announced its quarterly and fiscal 2009 results. For the quarter, the company had a 2 cent loss, but was profitable for fiscal 2009 with earnings of 42 cents per diluted share. That's down from $1.10 per diluted share in fiscal 2008. K12 shares fell over fourteen percent Wednesday morning.
Encore Acquisition Company (NASDAQ:EAC) priced an overnight offering of 2.75 million common shares, at $37.40 each. The company said it would use the net proceeds from the offering to pay down its revolving credit facility. Shares were down about five percent in early trading Wednesday.
And RTI International Metals (NYSE:RTI) announced a public offering of 5 million of its common shares. The underwriters are Citi (NYSE:C) and FBR Capital Markets (FBCM). RTI said it would use the offering proceeds to repay the term loan portion of its credit facility, as well as two Canadian credit facilities. RTI shares were off over six and a half percent in Wednesday morning trading.
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