Troubled education provider Vocation faces a massive plunge in annual earnings after being forced to sell a string of businesses following problems with its Victorian operations.
Vocation expects its underlying earnings for 2014/15 could be anywhere between a $3 million profit and $3 million loss.
Underlying revenue is expected to be $15 million.
Vocation also said in an update to investors on Monday that it was in the process of finalising a new long-term agreement with its bank.
Last financial year, Vocation recorded earnings of $36.1 million, with revenue of $128.4 million.
But the group has come under intense pressure since the Victorian government withdrew $20 million in funding in 2014 amid criticism of the quality of Vocation's education services.
The company reported a $273 million first half loss amid massive changes to its business but insisted it could remain a viable provider of education.
In May, Vocation announced plans to repay $8 million to the government and recalled the qualifications of 1,100 students.
It has also sold four businesses including its education and training data management software business OzSoft, and the Australian School of Management.
In the past six months, Vocation has appointed a new chairman, chief executive and interim chief financial officer as it tries to deal with the fallout from losing its government funding.
It has cut its staff numbers from more than 580 to about 160.
Shares in Vocation were 0.5 cents lower at 13 cents.
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