Improved student retention boosts ITT revenue, profit

ITT Educational Services Inc. posted first-quarter profit of $27.6 million, up nearly 35 percent over the year-ago period. Revenue increased almost 16 percent in the quarter ended March 31 to $204.2 million.

Both figures were driven partly by improved student retention.

The Carmel technology-oriented post-secondary school also saw a 13-percent increase in new student enrollment.