Nobel Learning Communities Inc. said Tuesday its fiscal fourth-quarter profit dipped 3 percent as higher expenses offset revenue growth, but adjusted results topped year-ago earnings.

The private school operator reported net income after paying preferred dividends fell to $3.3 million, or 31 cents per share, from $3.4 million, or 31 cents per share, a year ago.

But excluding a contract settlement in the current quarter and a gain on the sale of seven schools in the prior-year period, earnings rose to $2.8 million, or 26 cents per share, from $2.7 million, or 25 cents per share.

For the period ended June 28, revenue grew 17 percent to $57 million from $48.9 million. Meanwhile, general and administrative expenses rose to $4.9 million from $4.1 million.

Full-year earnings after paying preferred dividends increased 10 percent to $7.7 million, or 72 cents per share, from $7 million, or 70 cents per share.

Adjusted net income climbed to $7.1 million, or 67 cents per share, from $5.8 million, or 55 cents per share.

Annual sales gained 13 percent to $206.2 million from $182.8 million.