Corinthian Colleges Inc. announced that Marc Morial, President and CEO of the National Urban League, was unanimously appointed to the company's Board of Directors on April 27.

Corinthian Colleges Inc. announced that Leon Panetta, a former U.S. Secretary of Defense and Director of the Central Intelligence Agency, was unanimously appointed to the company's Board of Directors April 27. Secretary Panetta, 74, served in the Obama Administration as U.S. Secretary of Defense from 2011 to 2013 and as Director of the Central Intelligence Agency from 2009 to 2011, a time of numerous military and foreign policy challenges. Previously, he was White House Chief of Staff and Director of the Office of Management and Budget under President Bill Clinton. For 16 years, from 1977 to 1993, Secretary Panetta was a member of the U.S. House of Representatives representing California's 16(th) district, which included Monterey, San Benito, and parts of San Luis Obispo and Santa Cruz.

Corinthian Colleges Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported net revenues of $400,167,000 compared to $407,857,000 a year ago. Income from operations was $11,346,000 compared to $24,322,000 a year ago. Continuing operations before provision for income taxes was $3,816,000 compared to $19,168,000 a year ago. Income from continuing operations was $2,377,000 or $0.03 per basic and diluted share compared to $11,678,000 or $0.14 per basic and diluted share a year ago. Net loss was $1,020,000 or $0.03 per basic and diluted share compared to net income of $4,089,000 or $0.14 per basic and diluted share a year ago. For the nine months period, the company reported net revenues of $1,216,277,000 compared to $1,191,289,000 a year ago. Income from operations was $40,186,000 compared to $29,268,000 a year ago. Continuing operations before provision for income taxes was $20,107,000 compared to $16,487,000 a year ago. Income from continuing operations was $12,347,000 or $0.14 per basic and diluted share compared to $10,306,000 or $0.12 per basic and diluted share a year ago. Net income was $491,000 or $0.14 per basic and diluted share compared to net loss of $3,753,000 or $0.12 per basic and diluted share a year ago. Cash flow from operations was $128.8 million in the first nine months of Fiscal Year 13, versus $195.7 million in the same period of the prior year. The decrease is primarily due to the timing of cash receipts and payments. Capital expenditures were $28.6 million for the first nine months of fiscal 2013, versus $31.0 million in the same period last year. The decrease is primarily the result of opening fewer new campuses. For the fourth quarter of 2013, the company expects revenue to be in the range of $378-$388 million and diluted EPS to be in the range of $0.03-$0.05.