United Education’s Profit Plummets 98%

United Education & Software, an Encino operator of trade schools, said its fiscal first-quarter profit plunged 98% from a year earlier on a 7% decline in revenue.

In the quarter ended April 30, United Education’s net income dropped to $24,000 from $1.1 million, while its revenue fell to $20.6 million from $22.2 million.

United Education blamed the declines on relatively low unemployment rates, which reduced enrollment at its training schools, and higher interest costs.