Career Education Corp said on Monday its first-quarter profit fell 45 percent as the company, a leading operator of for-profit colleges and trade schools, booked charges to restructure its operations and cut costs.

The company reported a first-quarter profit of $16.4 million, or 18 cents a share, down from $30 million, or 31 cents per share, a year earlier. It said that, in addition to severance payments, the results were weighed down by “the payments of previously settled legal matters.”

The Hoffman Estates, Illinois-based company reported revenue of $460.2 million, little changed from $460.4 million a year ago.