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Wednesday, Apr 24
More on DeVry's (DV -20.2%) Q3: A bottom line beat is overshadowed by a 17% decline in...
More on DeVry's (DV -20.2%) Q3: A bottom line beat is overshadowed by a 17% decline in enrollment at the company's namesake university. CEO Daniel Hamburger blamed the slump on low cyclical demand occasioned by a weak economy, tepid job growth, and questions about the value of a college education. Average time from student inquiry to application rose to 50 days from 20. When asked by Deutsche's Adrienne Colby how high school enrollment trends were shaping up for July and September, Hamburger said: "Unfortunately, [they are] a little bit soft for us." (transcript)