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Universal Technical Institute history
Universal Technical Institute company history timeline
Founded in 1965 and headquartered in Phoenix, Universal Technical Institute's (NYSE: UTI) mission is to serve our students, partners, and communities by providing quality education and support services for in-demand careers.
In 1968 the school's offerings were expanded with an automotive and diesel repair program, and the following year air conditioning and heating repair training were added.
1969 An air conditioning repair program is added.
1983 The Houston campus opens.
Three years later a second campus opened in Houston to train students in automotive and diesel technology, and in 1986 a new building was added for the firm's air conditioning technology program.
In 1990 president and 11-year company veteran Robert Hartman was named CEO. Concerned about developing a strategy for the future, Hartman decided to add a board of directors to help advise him in this area.
The year 1998 also saw the firm expand to California with a new campus in Rancho Cucamonga.
For 1999 the company's revenues topped $78 million.
Classes would begin in 2000 at UTI's Houston campus, with a dedicated training facility planned for North Carolina, where more than three-fourths of the NASCAR racing teams were headquartered.
In 2001 new buildings were added to UTI's Pennsylvania, Illinois, and Florida campuses, with the latter dedicated to Harley-Davidson and marine technician training.
In 2003 the company announced plans to spend $54.2 million to expand its facilities around the country and hire up to 100 new instructors.
2004 A New Exton, Pennsylvania campus opens.
For 2005 the company had revenues of $310.8 million and a net income of $35.8 million.
In 2005 the company enlarged its Exton, Pennsylvania campus with a new 41,000-square-foot facility that offered diesel technology training and automotive training, and also expanded its Texas, Illinois, Florida, and Rancho Cucamonga, California campuses.
2005 Sacramento, California, and Massachusetts campuses open.
In early 2006 the company initiated a $30 million stock buyback program just before its share price dropped by more than 20 percent when analysts' earnings predictions were not met.
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Universal Technical Institute competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Lincoln Tech | 1946 | $440.1M | 3,000 | 403 |
| Ohio Technical College | 1969 | $21.3M | 200 | 1 |
| Lincoln College | 1865 | $26.0M | 536 | 4 |
| Florida College | 1946 | $50.0M | 166 | 7 |
| Westwood Community School District | - | $5.9M | 100 | 29 |
| Grantham University | 1951 | $27.8M | 200 | - |
| Career Education | 1994 | $681.3M | 4,000 | - |
| Ultimate Medical Academy | 2004 | $5.6M | 30 | 31 |
| Vista College | 1983 | $22.0M | 772 | - |
| Bryant & Stratton College | 1854 | $5.0M | 100 | 226 |
Universal Technical Institute history FAQs
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Universal Technical Institute may also be known as or be related to UNIVERSAL TECHNICAL INSTITUTE INC, UTI, Universal Technical Institute, Universal Technical Institute Inc, Universal Technical Institute, Inc. and Universal Technical, Inc.