Youth Services International Inc., the Owings Mills-based company that runs programs for troubled youths, said yesterday that it will post a fourth-quarter profit, compared with a year-ago loss.
The company said an increase in the number of programs it runs, along with reduced administrative costs, will help boost earnings.
The company added four programs in the latest fiscal year, with the Charles H. Hickey School in Baltimore County contributing $15.5 million in revenue, almost half the company's projected total for fiscal 1994.
Youth Services has 10 programs, with the latest addition at Southwestern Children's Health Services in Arizona.
James Hindman, founder of the company, said selling, general and administrative expenses fell to 7.8 percent of revenue from 17.9 percent.
John Ripley, chief financial officer, said that net income for the fourth quarter that ended June 30 will be about $300,000, or 6 cents a share, compared with a year-ago loss of $142,000, or 3 cents. Revenue is expected to rise to between $9 million and $9.5 million from the prior year's $3.9 million.
Fiscal 1994 net income is expected to reach $1.7 million, or 34 cents to 36 cents a share, compared with a loss of $1.7 million, or 40 cents, in fiscal 1993. Youth Services expects revenue to rise to between $34 million and $35 million from the prior year's $8.9 million.
The fiscal 1994 earnings estimate was in line with one made by an analyst last month, according to Institutional Brokers Estimate System.
Shares of Youth Services stock closed yesterday at $8, down 37.5 cents on the Nasdaq stock market.