ITT Educational Services’ shares slumped after it omitted a full-year profit forecast in its third-quarter earnings, and said bad-debt expenses rose. ITT, which runs technology schools, said a 27 percent increase in new students boosted income. ITT earned $75.4 million, or $2 per share, vs. $50.2 million, or $1.28, a year ago. With more banks tightening lending rules, ITT is providing loans itself. As a percentage of sales, ITT said bad-debt expenses rose to 6.8 percent from 5 percent a year ago.
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